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Gold steady at ₹1.58 lakh per 10 grams in India; silver jumps over 3%Silver jumped over 3% on MCX due to US trade policy uncertainty; gold saw modest gains. Fed signals, tensions, and a strong dollar influenced bullion prices.By Anshul  February 27, 2026, 1:10:49 PM IST (Published)3 Min ReadGold and silver traded mixed on Friday (February 27), with domestic silver prices surging more than 3% in futures trade, while gold held modest gains as investors tracked US trade policy signals, Federal Reserve commentary and geopolitical developments.

On the Multi Commodity Exchange (MCX), silver for March delivery rose ₹8,231, or 3.17%, to ₹2.67 lakh per kilogram in a turnover of 3,352 lots. Analysts attributed the rally to fresh positions built by market participants amid renewed uncertainty over US trade policy.

In the international market, COMEX silver futures climbed $1.82, or 2.06%, to $90.11 per ounce at one point, though spot prices later eased below the $89 level an ounce after touching a three-week high of $91.3 an ounce.

Gold, meanwhile, held firm in the domestic market at ₹1.58 lakh, up 0.36% on February 27. In the overseas market, spot gold was trading near $5,180 per ounce after rebounding from intraday lows of $5,130 an ounce.

Fed signals, dollar cap gains

According to Kaynat Chainwala, AVP – Commodity Research at Kotak Securities, bullion prices closed with modest gains in the previous session as easing geopolitical risk premiums and expectations of higher-for-longer US interest rates weighed on sentiment.

While some Federal Reserve officials signalled that rate cuts remain possible if inflation moderates further, market pricing has shifted expectations for the first rate cut toward July. A resilient US dollar and sticky US inflation data have reinforced expectations that the Fed will keep rates steady in the near term, limiting the upside in precious metals.

Axis Securities noted that silver retreated from recent highs as easing geopolitical tensions and a firm interest-rate outlook reduced safe-haven demand. At the same time, ongoing US tariff uncertainty and diplomatic developments surrounding Iran’s nuclear programme continued to underpin gold prices.

Analysts said sustained gains in bullion would likely require clearer signals of imminent rate cuts or renewed geopolitical escalation, as the stronger dollar continues to cap rallies.

Structural support remains intact

Despite near-term volatility, broader trends remain supportive for precious metals. Gold continues to draw strength from central bank reserve diversification, elevated sovereign debt levels and investor interest in exchange-traded funds. Market participants also cite regulatory changes in China and rising ETF participation in India as supportive factors for safe-haven demand.

A recent outlook report by Lighthouse Canton said gold entered 2026 from a position of structural strength, supported by persistent central-bank accumulation and relatively inelastic mine supply. While gains may moderate, analysts expect prices to consolidate with a positive bias.

Silver’s outlook remains constructive but more volatile, driven by both safe-haven flows and industrial demand linked to renewables, electrification, defence and data-centre expansion. Tight supply conditions and episodic investment flows could continue to influence price swings.

-With PTI inputsContinue ReadingNote To ReadersDisclaimer: This article is for informational purposes only and should not be construed as investment advice. Readers should consult certified experts before making any investment decisions.TagsgoldGold Pricesgold ratessilversilver prices