Silver prices jump Rs 7,200, gold reclaims Rs 1.6 lakh as tariff, geopolitical uncertainty looms. What are experts saying?

On Wednesday, gold and silver prices surged on the Multi Commodity Exchange (MCX) as investors sought safe havens amid rising geopolitical tensions and uncertainties surrounding U.S. tariffs. Following a significant Supreme Court decision that affected policies from former President Donald Trump, gold futures for April 2026 increased by Rs 1,103, reaching Rs 1,61,072 per 10 grams. Silver futures also saw a notable rise, climbing by Rs 7,246 to Rs 2,67,990 per kg. In the international market, gold prices rose to $5,174.76 per ounce, reflecting a 0.5% increase, while silver gained 1% to $88.23 per ounce. Analysts predict continued volatility in precious metal prices due to ongoing geopolitical tensions, particularly with upcoming U.S.-Iran nuclear talks and the impact of tariffs. Manoj Kumar Jain from Prithvi Finmart noted that price fluctuations are likely with gold support at $4,880 and silver at $68.00 per troy ounce. In Indian physical markets, 22-carat gold prices are reported at approximately Rs 1,18,768 per 8 grams in Delhi, indicating a steady demand for gold amidst the current economic climate.