Gold and Silver Prices This Evening: Yellow metal steady near Rs 1.20 lakh—Precious metals ready to shine again?

Gold rates in domestic market remained stable for the third consecutive day, trading around Rs 1,20,999 per 10 grams on Friday, with a slight increase of 0.32 per cent. The yellow metal reached an intraday high of Rs 1,21,386, which shows volatility and the market is in a process of consolidation.

Gold price has been circling the Rs 1.20 lakh level for the last couple of days, which indicates that investors are rather looking out for a fresh trigger to take the prices up. Market watchers are watching closely whether the metal will bounce back to its peak price of Rs 1,32,294 in the near future.

How is gold performing globally?

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In the international market, spot gold is currently trading around $3,992.78 per troy ounce, up 0.23 per cent. On a 30-day basis, prices have gained about 0.58 per cent, showing mild upward momentum despite global uncertainty. Analysts say the steady performance reflects a cautious sentiment among investors amid mixed economic cues and central bank actions.

Presently, the international gold market is witnessing the trading of spot gold at a price of approximately $3,992.78 per troy ounce, representing an increase of 0.23 percent.

Prices have risen about 0.58 percent for the last 30 days, indicating the prices have not moved significantly downwards, although the uncertainty was global.

Experts' says that the stable performance is a sign of the investors' cautiousness who are affected by the mixed economic indicators and central bank interventions.

Silver Prices Today: A buying opportunity?

Silver followed a similar trend, with domestic prices climbing 0.89 per cent to trade around Rs 1,48,377 per kg. The white metal touched an intraday high of Rs 1,49,395, prompting experts to call the current dip a “buying opportunity” for long-term investors.

On the international front, silver was up 0.74 per cent, trading near $48.54 per troy ounce. Over the last month, the metal has seen a downfall of 0.87 pr cent, reflecting gold’s steady uptrend.

Will gold and silver prices rise further?

Experts believe both metals are poised for another round of gains. Historically, gold prices tend to surge ahead of Dhanteras and Diwali, often cooling slightly once the festive rush ends. However, with the wedding season approaching, demand is expected to rebound.

In an interview with Zee, Sabyasachi Ray, Executive Director of the GJEPC, said:

“People’s positive sentiment toward gold isn’t fading. The marriage season will likely spark another rally, just as we saw before Dhanteras.”

He added that while investor confidence dipped about 10 per cent post-Diwali due to profit-booking and uncertainty, sentiment is expected to bounce back strongly as wedding-related demand picks up.

With prices stabilising and festive demand still strong, experts say gold and silver could see renewed upward momentum in the coming weeks — especially as India enters its peak wedding season.