Precious metals saw significant gains on April 16, with gold futures increasing by $38 per troy ounce to reach $4,861, while silver futures surged by $1.64 to $81. This rise is attributed to growing optimism surrounding potential negotiations between the US and Iran, as well as a weaker US dollar, which makes dollar-denominated commodities more affordable for international buyers. Following a challenging March, where gold and silver prices fell by 10% and 20% respectively due to inflation concerns, the current market sentiment has shifted positively. In the domestic market, gold futures on the Multi Commodity Exchange (MCX) gained ₹1,042, reaching ₹1,54,990 per 10 grams, marking a recovery of ₹25,203 from March lows, although still below the record high of ₹1,80,779. Silver also saw a rise, reaching ₹2,55,735 per kilogram, recovering ₹56,092 from its March lows but remaining significantly lower than its peak of ₹4,20,048. Investors are advised to consult certified experts before making investment decisions.