Overview
- Spot gold rose roughly 2–3% on Wednesday to about $5,050–$5,080 after Tuesday’s biggest daily gain since 2008, while spot silver advanced around 5% to near $89.
- Futures and ETFs tracked the upswing, with COMEX April gold near $5,083 and silver around $87, and Indian gold and silver ETFs logging broad one‑day gains of roughly 4–6%.
- CME Group’s margin hikes intensified last week’s sell‑off, lifting COMEX gold margins to 8% from 6% and silver to 15% from 11%, which accelerated forced liquidations.
- Analysts attribute the crash to crowded speculative positioning, China‑led flows and options structures, while citing safe‑haven and central‑bank buying as support for the rebound.
- Domestic prices mirrored the surge, with MCX gold around Rs 1.60 lakh per 10g and silver near Rs 2.80 lakh/kg in India, and Pakistan’s gold rate climbing to Rs 529,162 per tola.