On Wednesday, gold and silver prices opened higher on the Multi Commodity Exchange of India following US President Donald Trump's announcement to extend the ceasefire with Iran indefinitely. This decision alleviated inflation concerns, leading to gold futures for June 2026 delivery rising by ₹2,000 to ₹1,53,699 per 10 grams and silver futures for May 2026 delivery jumping ₹4,800 to ₹2,49,423 per kg. Globally, spot gold also saw a rise of 0.6%, reaching $4,739.94 per ounce. Market analysts predict continued volatility due to fluctuations in the dollar index and crude oil prices. Traders are advised to maintain long positions in gold as long as it stays above ₹1,48,000, while caution is suggested for silver after it breached ₹2,45,000 in the previous session. In major Indian cities, gold prices for standard (22 carat) gold range from ₹1,13,872 in Mumbai to ₹1,14,392 in Chennai.