Gold and Silver Prices Surge Amid U.S.-Iran Peace Talk Optimism
Silver rockets Rs 4,000/kg, Gold near Rs 1.53 lakh/10g as Iran war peace talk optimism sparks rally. What’s next for investors?
The Economic TimesImage: The Economic Times
Gold and silver prices have risen on the Multi-Commodity Exchange of India, driven by a weaker dollar and optimism for a potential peace agreement between the U.S. and Iran. Gold is near ₹1.53 lakh (roughly $1,840) per 10 grams, while silver has reached ₹4,000 (roughly $48) per kg.
- 01Gold futures for June 2026 delivery rose by ₹755 to ₹1,52,887 per 10 grams.
- 02Silver futures for July 2026 delivery increased by ₹3,800 to ₹2,57,055 per kg.
- 03The U.S. and Iran are reportedly close to a peace agreement, easing market tensions.
- 04Spot gold reached $4,701.19 per ounce, while spot silver was at $77.68 per ounce.
- 05Investors are advised to book profits and await corrections before making new investments.
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On Thursday, gold and silver prices opened higher on the Multi-Commodity Exchange of India, buoyed by a weaker dollar and optimism surrounding a potential peace agreement between the United States and Iran. Gold futures for June 2026 delivery rose by ₹755 to ₹1,52,887 per 10 grams, while silver futures for July 2026 delivery surged by ₹3,800 to ₹2,57,055 per kg. This increase follows reports that the U.S. and Iran are nearing a one-page, 14-point memorandum of understanding aimed at ending the ongoing conflict. As of 0231 GMT, spot gold traded at $4,701.19 per ounce, reflecting a nearly 3% rise on Wednesday, while spot silver was at $77.68 per ounce. Market analysts expect continued volatility in precious metal prices due to fluctuations in the dollar index and crude oil prices, especially ahead of the U.S. non-farm payroll data. Investors are advised to consider booking profits from existing positions and to wait for corrective dips before making new investments.
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The rise in gold and silver prices may influence investment decisions among local traders and consumers, affecting buying patterns in the jewelry market.
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