Gold and silver prices are once again witnessing strong momentum amid rising concerns over a global trade war, pushing investors toward safe-haven assets. This increased demand is fueling an upward trend in precious metal prices both in domestic and international markets.

Gold & Silver Prices Surge on MCX

On the Multi Commodity Exchange (MCX), gold prices saw a sharp rise on April 9:

• Gold (June contract) increased by approximately ₹720, reaching around ₹88,400 per 10 grams.
• The all-time high for gold on MCX stands at ₹91,423 per 10 grams.

Silver prices mirrored the upward movement:

• Silver (May contract) rose by about ₹230, touching around ₹89,000 per kilogram in early trading.
• It peaked at ₹89,076 per kilogram during the session.
• Silver’s all-time high on MCX is ₹1,04,072 per kilogram.

Expert View & Short-Term Trading Strategy

Anuj Gupta, Head of Currency and Commodity at HDFC Securities, shared his short-term trading outlook:

• Gold (June futures):
  • Buy with a target of ₹92,625 per 10 grams
  • Stop-loss at ₹90,180
• Silver (May futures):
  • Buy with a target of ₹1,03,780 per kilogram
  • Stop-loss at ₹99,020

International Market Trends

Following a recent dip, global markets are now showing an uptrend in precious metals:

• Gold on COMEX is currently trading around $3,022 per ounce, recovering after previous weakness due to investor preference shifting briefly toward the US dollar.
• Silver has also surged to approximately $30 per ounce.

The ongoing global trade tensions have reignited interest in gold and silver as safe-haven assets, pushing prices higher both domestically and internationally. With MCX gold nearing ₹88,400 per 10 grams and silver hovering around ₹89,000 per kilogram, analysts suggest cautious optimism with defined stop-loss and target levels for short-term traders.