Overview
- Indian silver extended its slide to a fresh 2026 spot low near ₹2.74 lakh per kg, with MCX March futures later quoted around ₹2.40 lakh, taking the monthly fall to roughly 21% from the February 1 peak.
- Gold in India showed relative resilience, consolidating near ₹1.57 lakh per 10g early Monday before MCX April futures eased to about ₹1.55 lakh, with spot levels still described above the ₹15,600 support area.
- Globally, spot gold traded around $5,010 per ounce and silver near $76.8 as Friday’s rebound faded on thin holiday volumes in the US and China.
- Analysts flag a volatile consolidation phase driven by shifting US rate expectations and market-structure flows, with support from central-bank buying and safe-haven interest offset by ETF profit-taking and uneven physical demand in India and China.
- Pakistan’s bullion prices fell in line with international moves, and official data showed national gold reserves at 64.76 tonnes valued at $1.0374 billion.