New Delhi: Gold and silver prices surged on Wednesday following reports that the prolonged conflict between Iran and the United States has come to an end, raising hopes of improved global economic stability. The impact was immediately reflected in commodity markets, with both precious metals recording strong gains domestically and internationally.
On the Multi Commodity Exchange (MCX), gold prices rose sharply during morning trade. At around 11:24 am, the price of 10 grams of gold stood at Rs 1,54,485, after touching a low of Rs 1,53,301 and a high of Rs 1,54,485 earlier in the session. Analysts suggest that if the current momentum continues and geopolitical tensions remain subdued, gold prices could climb further to between Rs 1,65,000 and Rs 1,70,000 per 10 grams in 2026.
Silver, meanwhile, outperformed gold with a sharper rally. At the opening of the commodity market, May futures silver contracts jumped by more than Rs 11,000. By 9 am, silver was trading at Rs 2,45,109 per kg, having recorded a low of Rs 2,34,992 and a high of Rs 2,47,885. Experts believe that sustained upward momentum could push silver prices back towards the Rs 2,50,000 mark.
In international markets, gold rose by over 3 percent while silver surged more than 6 percent, reflecting strong global demand for safe-haven assets amid shifting geopolitical dynamics. On Comex, silver was trading at 76.415 dollars per ounce, up by 6.16 percent.
Domestic prices varied across cities. Among major urban centres, gold was cheapest in Patna at Rs 1,53,180 per 10 grams, while Indore recorded the highest price at Rs 1,53,430. Silver prices were lowest in Raipur at Rs 2,43,360 per kg and highest in Bhopal at Rs 2,43,970.
City-wise data showed gold prices broadly ranging between Rs 1,53,180 and Rs 1,53,430 per 10 grams, while silver traded between Rs 2,43,360 and Rs 2,43,970 per kg across key cities including Jaipur, Kanpur, Lucknow and Chandigarh.
Market experts, including Sebi-registered commodity analyst Anuj Gupta, noted that the rally is being driven by strong international cues and improved investor sentiment. “Gold and silver are already seeing gains in global markets, and this trend is now reflecting in domestic prices,” he said.
Despite the easing of geopolitical tensions, investors continue to favour precious metals, indicating sustained demand in the near term.
