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MCX Silver Jumps 6% To Hit Upper Circuit After 46% Crash; Can India–US Deal Spark A Sustained Rally?
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Silver prices staged a sharp rebound on Tuesday after an intense phase of liquidation that followed the abrupt unwinding of a record-setting rally
Silver Rates Surge Today
Silver Rates Today: Silver prices staged a sharp rebound on Tuesday after an intense phase of liquidation that followed the abrupt unwinding of a record-setting rally. The earlier sell-off had pulled prices down more than 46% from their peak in just three sessions, highlighting the extreme volatility in the precious metals space. Gold prices also recovered alongside silver.
On the MCX, silver hit the 6% upper circuit at Rs 2,50,436 per kg on February 3, while MCX gold climbed 3% to Rs 1,48,310 per 10 grams.
A key macro catalyst emerged after US President Donald Trump announced a trade agreement with India. The deal lowers US tariffs on Indian goods to 18% from 50% in exchange for India halting Russian oil purchases and easing certain trade barriers. The development added a fresh geopolitical layer to already jittery commodity markets.
Gold mirrored silver’s recovery in global trade. Spot gold rose as much as 4.2% to move above $4,855 an ounce after sliding 4.8% in the previous session. That decline had extended Friday’s slump, the steepest in over a decade.
Earlier, on January 30, spot gold had tumbled nearly 10% in its sharpest single-day fall since 1983, dragging prices back below the $5,000-an-ounce mark that had been crossed only days before and erasing a sizable portion of the year’s gains.
The rebound extended beyond gold and silver. Spot platinum advanced 3% to $2,183.64 an ounce after touching a record $2,918.80 on January 26, while palladium rose 2.7% to $1,765.75, joining the broader recovery across precious metals.
What drove the rebound after the crash?
Domestic sentiment got a lift from the India–US trade deal, while investors also reassessed geopolitical risks, currency movements and the outlook for US monetary leadership. Strong buying from Chinese retail investors ahead of the Lunar New Year further supported demand, although China’s markets are set to shut for over a week from February 16, temporarily sidelining a key source of consumption.
Traders are also watching developments involving Iran after Trump signalled that talks on a potential new nuclear agreement could begin soon. Any diplomatic progress could reduce gold’s safe-haven appeal and cap gains.
The earlier sell-off in bullion was initially triggered by Trump’s nomination of Kevin Warsh as the next Federal Reserve chair, which strengthened the US dollar and pressured metals. The slide intensified after CME Group raised margin requirements for precious metals futures, forcing leveraged traders to unwind positions quickly. A stronger dollar combined with higher trading costs led to a sharp liquidity squeeze, accelerating the fall.
Will the rally sustain?
Hareesh V, Head of Commodity Research at Geojit Investments, said longer-term drivers such as geopolitical tensions, central bank buying and macro uncertainty remain supportive for precious metals.
He noted that the previous correction was magnified by extremely overbought conditions after gold and silver had surged to record highs, with silver rallying more than 60% in a month and gold over 20%. Profit-booking snowballed into panic selling as liquidity thinned and volatility spiked.
“The violent drop was more of a technical correction than a deterioration in core fundamentals,” he said, suggesting that the broader structural support for the metals remains intact.
February 03, 2026, 11:07 IST
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Britain’s competition watchdog has vowed to tackle fake and misleading online reviews “head on” as it launched investigations into firms including Just Eat and Autotrader.
The Competition and Markets Authority (CMA) said reviews are used by 90% of consumers when they buy over the internet and play a large part in the UK’s over £200 billion online retail sector.
But up to 50% of online reviews are fake, according to recent research by tech firm Truth Engine.
The CMA said its latest action against firms comes as part of a clampdown on fake and misleading reviews as shoppers increasingly rely on customer feedback when shopping online.
Emma Cochrane, executive director for consumer protection at the CMA, told the Press Association: “It’s so important that consumers can have trust in those reviews because we know that nine in 10 of us rely on them when we’re shopping, and that retail shopping in the UK is billions of pounds worth a year.
“It’s so important that consumers can have trust and confidence when they’re shopping online.”
Here are the CMA’s tips for spotting and avoiding fake reviews:
– Read the reviews
Shoppers often get taken in by five-star ratings without actually reading what people have to say about a product or service.
“You’ll be surprised at how many reviews sound dubious, overly vague or even totally unrelated to the item they’re supposedly endorsing,” the CMA said.
– Be alert to AI-generated reviews
Artificial intelligence (AI) can be used to make fake reviews sound fluent, polished and highly convincing.
“If a review feels a bit too slick, reads like it’s been perfectly crafted, or uses very similar wording to others, it may not reflect a real customer’s experience,” the CMA warned.
– Take a look at the other ratings
Look beyond the five-star ratings.
Three or four-star reviews are less likely to be fake, and they can be more useful to give a genuine, overall assessment.
– Check out multiple sites
Looking across several sites can help shoppers see patterns and provide a more consistent picture.
“Check a few different review sites. If you’re seeing the same kind of reviews coming up again and again, it’s more likely to be fake,” said Ms Cochrane.
The UK’s competition watchdog says it is looking at five firms in its investigation into misleading online reviews.
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Gold price today (March 25, 2026): How much 24K and 22K gold cost in Delhi, Mumbai & more- Check rates – The Times of India
Gold futures traded higher on the Multi Commodity Exchange (MCX) on Friday with key contracts registering gains of up to 1.6 per cent amid firm buying interest and supportive global cues.The April 2026 gold contract rose by Rs 2,290, or 1.64 per cent, to trade at Rs 1,41,783 per 10 grams. The contract moved between an intraday low of Rs 1,40,287 and a high of Rs 1,42,800. The June 2026 contract, which saw higher trading activity, gained Rs 1,921, or 1.35 per cent, to Rs 1,44,435 per 10 grams. During the session, it touched a low of Rs 1,43,652 and a high of Rs 1,45,773. Meanwhile, the August 2026 contract advanced by Rs 1,480, or 1.02 per cent, to Rs 1,47,100 per 10 grams, with an intraday range of Rs 1,47,040 to Rs 1,48,600.Here is how gold prices stand across major cities today:
Gold price in Delhi today
Gold prices in the national capital declined, with 24K gold quoted at Rs 14,486 per gram, down Rs 218, while 22K gold slipped Rs 200 to Rs 13,280 per gram.
Gold price in Mumbai today
Mumbai bullion markets also saw a drop, with 24K gold priced at Rs 14,471 per gram, down Rs 218, and 22K gold at Rs 13,265 per gram, lower by Rs 200.
Gold price in Chennai today
Chennai recorded a sharper decline, with 24K gold selling at Rs 14,651 per gram, down Rs 262, while 22K gold dropped Rs 240 to Rs 13,430 per gram.
Gold price in Kolkata today
In Kolkata, 24K gold was quoted at Rs 14,471 per gram, down Rs 218, while 22K gold stood at Rs 13,265 per gram, lower by Rs 200.
Gold price in Hyderabad today
Hyderabad markets reflected a similar trend, with 24K gold priced at Rs 14,471 per gram, down Rs 218, and 22K gold at Rs 13,265 per gram, slipping Rs 200.
Gold price in Bangalore today
In Bangalore, 24K gold was quoted at Rs 14,471 per gram, down Rs 218, while 22K gold was selling at Rs 13,265 per gram, lower by Rs 200.
Gold price in Ahmedabad today
Ahmedabad bullion markets showed declines, with 24K gold at Rs 14,476 per gram, down Rs 218, while 22K gold fell Rs 200 to Rs 13,270 per gram.
Gold price in Lucknow today
In Lucknow, 24K gold was priced at Rs 14,486 per gram, down Rs 218, while 22K gold moved lower by Rs 200 to Rs 13,280 per gram.
Gold price in Patna today
Patna markets also recorded weaker rates, with 24K gold quoted at Rs 14,476 per gram, down Rs 218, and 22K gold at Rs 13,270 per gram, lower by Rs 200.
Gold price in Jaipur today
In Jaipur, 24K gold was quoted at Rs 14,486 per gram, down Rs 218, while 22K gold stood at Rs 13,280 per gram, down Rs 200.
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