The outlook follows a sharp rally in FY26, when silver futures surged by Rs 1,41,431, or 142.2%t, rising from Rs 99,461 per kg on April 1, 2025. During the same period, gold advanced Rs 60,258, or 67%, from Rs 90,503 per 10 grams.
The year marked one of the most robust performances for precious metals in decades, with silver climbing more than 142 per cent and gold gaining around 67 per cent. The gains were fuelled by tariff actions under Trump, geopolitical uncertainty, strong central bank purchases, tightening supply conditions and broader global economic concerns.
“The outlook for gold and silver for fiscal 2026-27 will remain moderately bullish. Since the global economy is going through a rough patch due to geopolitical tensions, trade wars and fear of global recession, demand for safe-haven assets will rise,” said Aamir Makda, Commodity & Currency Analyst at Choice Broking, in an interview with PTI.