On February 27, 2026, 24-carat gold in Mumbai was quoted at Rs 1,61,950 per 10 grams, while 22-carat gold traded at Rs 1,48,470 per 10 grams, reflecting a modest pullback in local physical market rates.
The easing mirrored movements on the Multi Commodity Exchange (MCX). As reported by news agency IANS, MCX April gold futures declined 0.25 per cent to Rs 1,60,741 per 10 grams during Thursday’s intra-day trade. MCX March silver futures saw a steeper drop of 1.16 per cent, settling at Rs 2,65,200 per kg.
This corrective phase followed robust advances in the previous session, where MCX April gold climbed 0.74 per cent and March silver jumped 3 per cent, prompting participants to lock in gains.
Geopolitical escalations and ongoing weakness in the US dollar have kept upward pressure on precious metals overall. Uncertainty persists around US trade policies, including a baseline 10 per cent tariff on certain imports—with potential hikes to 15 per cent or more for select countries—and protracted negotiations. These elements have bolstered demand for gold and silver as hedges against risk.
ALSO READ : Gold And Silver Prices Skyrocket Amid Geopolitical Tensions
Market analysts, citing IANS, foresee continued volatility in the near term for both metals. They advise investors to consider securing profits at current elevated levels and monitor for potential dips before entering fresh positions.
In the equity space, Indian benchmarks opened on a subdued note amid global caution and ahead of key domestic GDP figures. According to news agency ANI, the Nifty 50 started at 25,459.85, down 36.70 points or 0.14 per cent, while the BSE Sensex opened at 82,220.48, lower by 28.13 points or 0.03 per cent.
The interplay of trade policy ambiguity, a softer dollar, and macroeconomic caution is expected to keep bullion markets reactive to fresh developments in the days ahead.
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