Editor’s Note
This article highlights a dramatic surge in silver prices on the MCX, breaking a three-day downtrend. The piece attributes the rally to market optimism following a U.S. decision to reduce tariffs on Indian goods.
A strong recovery was seen in gold and silver prices on the MCX today, breaking away from the decline witnessed over the past three days. In early trading on Tuesday morning, silver left investors astonished. After three consecutive days of decline, silver for March delivery recorded a record surge of over ₹17,000. By 9:30 AM, silver was trading at ₹2,53,999 per kilogram, marking a hefty gain of ₹17,738. Market experts believe that the US decision to reduce tariffs on Indian goods is expected to boost industrial demand, which has directly impacted silver prices.
Along with silver, gold’s shine has also increased. Gold for April delivery reached ₹1,48,586 per 10 grams in the early session today, gaining ₹4,595. The trade deal has not only boosted investor confidence but has also strengthened gold’s position as a safe-haven investment amid global dollar fluctuations.
The easing of import-export regulations under the India-US trade deal is considered the main reason behind this rally. The US has reduced tariffs on Indian products from 50% to 18%, which is likely to lead to a massive surge in exports for the gems and jewellery sector. Additionally, the reduction in customs duty on gold in Budget 2026 has also positively shaped market sentiment at the domestic level.
Market analysts say this post-trade-deal rally could be long-lasting. However, investors are advised to keep an eye on global geopolitical situations. For now, this ‘bull run’ in the commodity market has brought smiles to the faces of jewellers and large investors.
