Noida, Apr 16 (APAC Media): Gold and silver prices opened higher on Thursday on the Multi Commodity Exchange (MCX), tracking firm global cues amid renewed optimism over potential talks between the United States and Iran, which could ease geopolitical tensions and stabilise supply disruptions in the Middle East.
Market participants are closely tracking these developments, as a potential restart of negotiations could ease supply concerns in the Middle East, especially after recent disruptions around the Strait of Hormuz.
Adding to the bullish trend, the US dollar continued to hover near a more than one-month low. A weaker dollar typically makes commodities like gold and silver more attractive and affordable for investors holding other currencies, thereby boosting demand.
In the domestic futures market, silver prices recorded a sharp surge. Silver futures for May 2026 delivery jumped by Rs 4,000, or 1.7%, to trade at Rs 2,55,737 per kilogram. Gold also saw modest gains, with June 2026 futures rising by Rs 809, or 0.52%, to Rs 1,54,751 per 10 grams.
The upward movement in bullion prices reflects a combination of global geopolitical factors and currency trends, keeping investor interest strong in precious metals.
In the national capital, Delhi, gold prices saw a noticeable increase across all purity levels. Similarly, other metro cities including Mumbai, Chennai, and Kolkata reported comparable upward movements, although slight variations were observed due to local demand and taxes. Silver, in particular, witnessed a stronger rally than gold, driven by both industrial demand and global price momentum.
Below is a city-wise snapshot of gold and silver prices:
City-wise Gold & Silver Price Chart (April 16, 2026)
| City | 🟡 24K Gold (10g) | 🟠22K Gold (10g) | 🔶 18K Gold (10g) | ⚪ Silver (1 kg) |
| Delhi | ₹1,56,090 | ₹1,43,090 | ₹1,17,090 | ₹2,90,020 |
| Mumbai | ₹1,55,810 | ₹1,42,870 | ₹1,16,860 | ₹2,89,030 |
| Chennai | ₹1,56,220 | ₹1,43,230 | ₹1,17,140 | ₹2,90,080 |
| Kolkata | ₹1,55,710 | ₹1,42,720 | ₹1,16,720 | ₹2,88,550 |
The steady rise in gold prices is largely attributed to international market trends, including fluctuations in the US dollar and geopolitical uncertainties. When global markets show signs of instability, investors typically move towards gold as a safer investment option, thereby pushing prices higher.
Silver prices have recently outpaced gold, supported by strong momentum in both investment and industrial demand.
Experts note that beyond its status as a precious metal, silver plays a key role in sectors such as electronics, solar energy, and other renewable technologies, which has boosted its global consumption.
This combination of financial and industrial demand has been a major factor driving the recent sharp increase in silver prices.
Market analysts suggest that bullion prices may remain volatile in the coming weeks. Key factors influencing future trends include global inflation data, central bank policies, and currency movements. Additionally, domestic demand during peak wedding season could keep prices elevated.
The current high price levels may influence buying decisions, especially for jewellery purchases. However, for long-term investors, gold and silver continue to be seen as reliable assets for wealth preservation.
Overall, the bullion market remains on a bullish trajectory, with both gold and silver trading near record highs across major Indian cities.
Disclaimer:
Gold prices and rates are for informational purposes only. APAC Media is not liable for any discrepancies or financial decisions made based on this data. Please consult an authorised advisor before making investment choices.
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