Chhatrapati Sambhajinagar
Gold and silver prices saw a sharp recovery on Wednesday, confusing both customers and traders. After a continuous slump in the first week of April, gold rose by Rs 1,500 and silver jumped by Rs 3,900 over the past two days.
Earlier, from April 4 to 8, gold prices fell by Rs 3,100 and silver by Rs 3,900 due to global market jitters following a U.S. tariff hike. This triggered speculation that gold could drop to Rs 60,000 per 10 grams, leading customers to delay purchases.
Date Gold (10g) Silver (1kg)
April 4 Rs 92,000 Rs 95,000
April 7Rs89,500 Rs 91,000
April 8Rs88,900 Rs 91,100
April 9Rs90,100 Rs 92,000
April 10Rs90,400 Rs 95,000
Experts say the impact of U.S. tariffs on global markets is now reducing, but price trends remain uncertain. "Rumors about gold falling to Rs 60,000 are baseless. Major price swings are unlikely," said trader Girdhar Jalanawala. Traders also report that customers are taking a ‘wait and watch’ approach. Many are delaying purchases until closer to wedding dates, affecting overall sales in the bullion market. "Customers now inform us they'll buy jewellery just two days before weddings," said trader Jugalkishore Verma.