Global Unrest Fuels Gold Silver Rally Up to 0.9%
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In a clear sign of investor caution, gold and silver prices surged at the start of Thursday’s session on the MCX, rising as much as 0.9% on the back of geopolitical tensions and a frail US dollar. Gold’s June 2025 contract advanced 0.24% or ₹368 to ₹1,52,500 by 10:30 AM, marking intraday extremes of ₹1,52,419 low and ₹1,52,887 high.
Silver stole the spotlight, gaining 0.91% or ₹2,293 to hit ₹2,55,558 for July 2026. It traded within ₹2,54,722 to ₹2,57,055, capturing the market’s risk-averse mood.
International benchmarks echoed the strength: Comex gold up 0.21% at $4,703 per ounce, silver firmer by 1.12% at $78.17. A dollar index languishing below 98—measuring the greenback against major currencies like euro, yen, sterling, CAD, krona, and franc—has unlocked buying interest worldwide.
The catalyst? Intensifying US-Iran diplomacy over nuclear curbs and Hormuz access. US reports highlight demands for program shutdowns and strait reopening. Iran’s foreign ministry hinted at a counter-response, even as Trump bets on a deal.
This backdrop of uncertainty is textbook for precious metals bulls. As stocks waver and bonds yield little, gold and silver offer refuge. Traders are bracing for prolonged volatility, with eyes on negotiation outcomes that could dictate the next leg of this upward trajectory.
