New Delhi, Feb 3: Gold and silver prices staged a strong recovery on Tuesday after suffering a steep decline over the past three sessions. The rebound comes as global bullion markets regained momentum.


MCX gold rate today for April futures contracts opened 2.78% higher at ₹1,48,000 per 10 grams level as against its previous close of ₹1,41,669 level. The yellow metal price surged to a high of ₹1,49,996 level.


MCX silver price for March futures contracts opened 4% higher at ₹2,45,711 per kg as compared to its previous close of ₹2,36,261 level. MCX silver rate jumped nearly 9% to ₹2,57,480 level.


In Delhi, 24-karat gold dropped by Rs 7,410 to Rs 1,53,440 per 10 grams, while silver eased by Rs 500 per 100 grams, trading at Rs 3,169 per 10 grams.


Similar declines were recorded across major cities including Mumbai, Hyderabad, Bengaluru, Chennai, Kolkata, and Pune. Twenty-two karat gold also saw a notable dip, with prices in Delhi slipping to Rs 1,40,670 per 10 grams.


On Monday, gold had traded at Rs 1,60,850 per 10 grams in Delhi, marginally lower than the previous day. Late January had seen gold prices surge past Rs 1.8 lakh per 10 grams, driven by safe-haven demand amid global geopolitical tensions.


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Silver prices mirrored the downward trend, with rates in Delhi, Mumbai, and Chennai dropping significantly from Monday’s levels.


Interestingly, while domestic markets showed weakness, global bullion rebounded strongly. Spot gold rose 3.7% to $4,837.16 per ounce in early trade, recovering from a near one-month low, according to Reuters.