On May 5, 2023, precious metals experienced a notable rebound as COMEX gold futures surged by $64 per troy ounce, reaching an intraday high of $4,697. This increase followed a decline in crude oil prices and a weaker US dollar, which prompted fresh safe-haven buying. Silver prices also saw a recovery, rising $1.12 to $74.64 per ounce, bouncing back from a near 2% drop the previous day. The ongoing US-Iran ceasefire, despite recent clashes, has contributed to positive sentiment in the markets. US Defense Secretary Pete Hegseth confirmed that the ceasefire remains in effect, providing some reassurance to investors. Additionally, the US dollar cooled after surging for two consecutive sessions, further supporting gold and silver prices. In the Indian market, MCX gold gained ₹1,101, reaching ₹1,50,440 per 10 grams, while silver futures rose ₹3,455 per kg, reclaiming the ₹2.47 lakh mark. Investors are advised to consult certified experts before making investment decisions.