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Bullion Prices Climb Sharply on West Asia Conflict Escalation

Volatility Stays High Pending Macro Cues

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Bullion prices climbed sharply today- April 6, 2026 as West Asia conflict escalation overshadowed U.S.-Iran diplomatic signals, bolstering the dollar and capping gains even as safe-haven demand surged.

  • Gold (MCX futures, 10g): +1.10% to Rs.1,51,200 (prev. close: Rs. 1,49,544)*Silver (MCX futures, 1kg): +1.15% to Rs.2,43,800 (prev. close: Rs.2,40,900)

The rally accelerated after President Trump’s comments dimmed de-escalation hopes, with crude steadying above $85/barrel. Short covering fueled the bounce, but Strait of Hormuz risks linger. Gold support at Rs. 1.49 lakh; resistance at Rs. 1.53 lakh. Volatility stays high pending macro cues.Domestic spot gold hit Rs. 1,50,800/10g; silver Rs. 2,42,000/kg. Importers eye import duty hikes amid rupee pressure.

Augmont Bullion (Apr. 6) noted that gold dropped 2.5 percent below $4,680 and Silver fell by 3.8 percent last week, while the US dollar closed above the 100-level following stronger-than-expected jobs data, reviving expectations of the Fed keeping rates higher for longer. 

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BIS Introduces The Silver Refinery Certification Scheme; Framework Introduces “India Good Delivery For Silver”

Buyers, Institutional Investors, and Jewelers Are Guaranteed Strict Adherence To Exact Quality, Testing, and Traceability Standards. Silver From Any BIS-Approved Refinery Ensures A Verified Fineness and Purity

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The Bureau of Indian Standards (BIS) has officially prioritized the domestic bullion sector by introducing the Silver Refinery Certification Scheme, that involved critical inputs and efforts by IBJA.


Mirroring the long-established certification ecosystem for gold, this framework introduces a structured “India Good Delivery for Silver” standard specifically tailored for silver bars and coins.


Buyers, institutional investors, and jewelers are guaranteed strict adherence to exact quality, testing, and traceability standards. Silver from any BIS-approved refinery ensures a verified fineness and purity.


Surendra Mehta, National Secretary- IBJA, said:

“BIS is introducing the Silver Refinery Certification Scheme, an initiative that involved critical inputs and efforts by IBJA. Mirroring the long-established certification ecosystem for gold, this framework introduces a structured India Good Delivery for Silver. Now, silver from any BIS-approved refinery ensures a verified fineness and purity. This will gradually end the impure silver bar market.”

Market structures have already evolved alongside this rollout. The Multi Commodity Exchange (MCX) aligned its exchange delivery protocols to accept BIS-standard domestic silver, allowing empanelled Indian refiners to fulfill physical delivery contracts directly on the exchange.

By formalizing the local refining of silver (including silver recovered as a by-product of gold dore), this scheme strengthens the domestic precious metals ecosystem in line with Aatmanirbhar Bharat objectives

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