Gold and Silver Gain After US–Iran Ceasefire Eases Tensions : SRINAGAR: Gold and silver prices rose on Wednesday following a ceasefire between the United States and Iran, which eased immediate geopolitical tensions and triggered shifts across global financial markets.
The gains in precious metals came alongside a broader rally in equity markets and a sharp decline in crude oil prices, as investors reassessed risk sentiment.
On the Multi Commodity Exchange (MCX), gold was trading at Rs 1,53,396 per 10 grams around 9:55 am, up Rw 3,107 or 2.07 percent. Silver recorded a stronger rise, climbing to Rs 2,43,200 per kilogram, up Rs 11,852 or 5.12 percent.
Market data indicated a long build-up in gold and short covering in silver, reflecting renewed buying interest and unwinding of bearish positions.
Globally, both gold and silver also advanced as markets reacted to the ceasefire and shifting expectations around inflation and risk assets. While easing tensions typically reduce demand for safe-haven assets, the decline in crude oil prices and currency movements supported precious metals.
Investors are also repositioning ahead of key central bank decisions, including the Reserve Bank of India’s monetary policy announcement later in the day.
Analysts say that despite short-term relief from the ceasefire, volatility is likely to persist as markets track developments in geopolitics, crude oil trends, currency fluctuations, and central bank signals.