MCX silver futures for March 5, 2026 jumped 3.62%, gaining Rs 8,564 to close at Rs 2,44,999 per kg on Friday. Meanwhile, gold futures for April increased by Rs 305, or 0.2%, to Rs 1,56,200 per 10 grams. Internationally, precious metals bounced back strongly after falling the previous day. Spot silver rose 2.1% to $77.27 an ounce, recovering from a steep 11% drop just one day earlier. Spot gold climbed 2.33% to $5,063 and is up over 1% for the week. This recovery follows a nearly 3% fall in bullion prices on Thursday, reaching a low point not seen in almost a week. Data from the US Labor Department showed the Consumer Price Index (CPI) rose 0.2% in January, below the expected 0.3% increase, easing inflation concerns. This helped precious metals recover their shine. Ponmudi R, CEO of Enrich Money, noted, "Price behavior at lower levels indicates accumulation rather than distribution. A sustained move above Rs 1,60,000 would likely re-ignite bullish momentum toward Rs 1,65,000–Rs 1,70,000+." He pointed out strong support for gold around Rs 1,50,000 and limited downside risk unless COMEX gold breaks structural support. Silver on MCX is also gaining strength. "MCX Silver builds a durable base within Rs 2,33,000–Rs 2,35,000 support zone," said Ponmudi, adding that a breakout above Rs 2,65,000 could push prices toward Rs 2,80,000+ amid tightening global supply and steady industrial demand. Investors are advised to watch these key levels as metals show signs of steady accumulation after recent volatility. (Disclaimer: Expert views are their own and do not represent The Economic Times.)