New Delhi, April 10 Silver prices rebounded by ₹3,800 to ₹2.47 lakh per kilogram in the national capital on Friday, and gold edged higher to ₹1.55 lakh per 10 grams as investors weighed fragile geopolitical developments and a weak US dollar.
According to the All India Sarafa Association, the white metal climbed by ₹3,800, or 1.6 per cent, to ₹2,47,000 per kg (inclusive of all taxes), reversing Thursday's decline of ₹2,43,200 per kg.
Gold of 99.9 per cent purity also went up by ₹400 to ₹1,55,300 per 10 grams (inclusive of all taxes). The yellow metal had settled at ₹1,54,900 per 10 grams in the previous market session.
The gains capped a strong week for precious metals, with silver advancing by ₹10,000, or 4.2 per cent, and gold gaining ₹3,800, or 2.51 per cent.
"Bullion prices have recovered firmly, supported by cautious diplomatic optimism on the Iran conflict and sustained central bank buying," Renisha Chainani, Head of Research at Augmont, said.
Global bullion prices also moved higher, with spot gold gaining USD 11.52, or 0.24 per cent, to USD 4,777.17 per ounce, and silver was trading nearly 1 per cent higher at USD 75.91 per ounce.
"Gold steadied above USD 4,700 per ounce and remained on course for a third consecutive weekly gain, as the US-Iran ceasefire triggered a sharp decline in oil prices and eased concerns over renewed inflation and potential interest rate hikes," Jigar Trivedi, Senior Research Analyst at IndusInd Securities, said.
A softer dollar, which had emerged as the leading safe-haven asset during the crisis, further supported the sentiment, he added.
Meanwhile, geopolitical tensions continue to linger.
Israeli Prime Minister Benjamin Netanyahu reiterated that operations in Lebanon are not covered under the US-Iran ceasefire, while Washington is expected to host further discussions next week involving Tel Aviv and Beirut aimed at advancing broader truce efforts.
US President Donald Trump also warned Iran over imposing transit fees in the Strait of Hormuz, adding to uncertainty in energy markets.
Chainani said the upside for gold remains capped amid fragile ceasefire conditions.
"A breakdown in negotiations could pull gold back to the mid-USD 4,000s swiftly, while a credible peace deal would clear the path toward USD 5,000 per ounce, making the current range a pivotal decision zone for markets," she added.