New Delhi, 25 March (H.S.): Gold and silver prices, which had been sliding for days, staged a sharp rebound today across international markets and domestic futures trading. Both precious metals shone brightly in the local bullion markets too, with Multi Commodity Exchange (MCX) gold jumping over three percent and silver soaring more than five percent on Wednesday.

On the MCX, April delivery gold climbed 3.63 percent to hit 1,43,960 rupees per 10 grams. Likewise, May delivery silver leaped 5.52 percent to trade at 2,36,300 rupees per kilogram.

Internationally, the upward momentum was even stronger. Spot gold on the Singapore Gold Exchange rose 3.76 percent to 4567.30 dollars per ounce today. In the London Silver Market, spot silver gained 5.75 percent, reaching 73.57 dollars per ounce.

Market experts attribute the rally to investors flocking back to safe-haven assets like gold and silver, fueled by hopes that conflict in West Asia might ease. This has also dented the dollar's appeal, boosting prices further.

Rajiv Dutta, CEO of Capex Gold and Investments, says the more peace prospects brighten in West Asia, the stronger the rally in both metals—especially silver. Industrial demand for silver has tanked amid the ongoing tensions there, but any positive steps toward stability could spark a surge in that demand and drive prices higher.

That said, Dutta cautions there's no firm outlook yet on gold and silver since everything hinges on West Asia developments. Right now, it's just hopeful signs of de-escalation, but without concrete progress, predicting the market's next move remains tricky.

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Hindusthan Samachar / Jun Sarkar