Gold Price Rises 1% & Silver Jumps 4% on MCX: Should You Buy Now or Wait for a Dip?

Gold Price Rises 1% & Silver Surges 4% on MCX Is Now the Right Time to Invest

Gold and silver prices surged on MCX on Tuesday, March 31, with gold gaining over 1% and silver jumping nearly 4%, tracking positive global trends. However, despite the sharp rally, market experts are advising investors to remain cautious and avoid aggressive buying at current levels.

Gold and Silver Prices Today on MCX

In early trade, MCX gold June futures climbed by more than ₹1,900 (1.30%) to ₹1,49,596 per 10 grams. Meanwhile, MCX silver prices surged by ₹8,400, or nearly 4%, reaching ₹2,37,402 per kilogram.

Globally, U.S. gold futures for June delivery also rose around 2% to $4,649.26, reflecting strong international momentum.

Despite today’s gains, both precious metals are expected to end March on a weaker note, with spot gold down nearly 8% and silver falling about 14% in India so far this month, according to MCX data.

Why Are Gold and Silver Prices Rising?

The recent uptick in gold and silver prices is driven by:

However, pressure remains due to:

According to Reuters, global gold prices may see their biggest monthly drop in nearly two decades, highlighting ongoing volatility in the market.

Is This the Right Time to Invest in Gold?

Market experts suggest that this is not the ideal time for aggressive buying despite the recent price correction.

Key Insights from Experts

Vandana Bharti (SMC Global Securities):

  • Gold is testing a critical support zone between ₹1,42,000–₹1,44,500
  • A breakdown could push prices toward ₹1,36,800
  • Upside potential exists toward ₹1,48,500–₹1,54,000 if support holds
  • Strategy: Buy on dips, not at current highs

She also highlighted that rupee depreciation could support domestic gold prices, even if global prices remain stable.

Jigar Trivedi (IndusInd Securities):

  • Current market is not momentum-driven
  • Investors should avoid chasing prices near resistance levels
  • Suggested buying zones:
    • ₹1,30,000–₹1,25,000 (primary accumulation)
    • Around ₹1,20,000 (additional buying)

Investment Strategy: What Should You Do?

Experts recommend a cautious and staggered investment approach:

✔️ Avoid lump-sum investments at current levels
✔️ Wait for price dips near support zones
✔️ Invest gradually to reduce risk
✔️ Track global cues like US interest rates and dollar movement

Final Verdict

While gold and silver prices have rebounded on MCX, the broader trend remains uncertain due to global economic factors. Investors should stay patient, avoid FOMO (fear of missing out), and focus on buying during dips rather than chasing the rally.

Disclaimer

All content published on Morning News is for informational and educational purposes only. We do not provide financial, investment, legal, or professional advice. Morning News is not responsible for any loss arising from the use of this information. Readers should do their own research before making any decisions.