In recent days, the prices of gold and silver have experienced a significant recovery after a crash. On the first trading day of the week, the Multi Commodity Exchange witnessed a substantial spike in gold and silver rates. Silver price surged by nearly ₹15,000 per kilogram, reaching ₹264,885 compared to the previous close of ₹249,892. Meanwhile, gold also saw a sharp increase, rising by ₹3,000 amidst this upward trend. However, both precious metals remain much cheaper compared to their historical highs.

Silver particularly made headlines as it opened at a much higher rate, indicating strong market movement. The futures for silver set to expire on March 5 illustrate this volatility. Just to provide context, silver's price reached a record high of ₹420,048 per kilogram on January 29 before this recent downturn, reflecting the dramatic shifts in the market.

Despite this increase in price, analysts suggest that the current levels for both metals are still significantly lower than their peaks, which might indicate potential future investment opportunities for buyers. This development comes amidst broader economic factors that influence commodity prices, making it an interesting time for both investors and consumers in the gold and silver markets.