Gold, Silver Rate Today Live Updates: Gold, silver prices up, precious metals rally strongly after crash as worries on US-Iran war ease; what should investors do?

Gold prices moved higher in domestic markets on Wednesday, extending a strong recovery seen in recent sessions, supported by improving geopolitical sentiment that helped push oil prices lower, said Saumil Gandhi, Senior Analyst for Commodities at HDFC Securities.

In global markets, spot gold climbed by USD 82.17, or nearly 2%, to USD 4,556.55 per ounce, while silver was also up around 2% at USD 72.67 per ounce.

Praveen Singh, Research Analyst at Mirae Asset ShareKhan, said spot gold has risen for a second consecutive session to hover near USD 4,550 per ounce, as optimism over a potential ceasefire between Iran and the United States weighed on both crude oil prices and the dollar.

A stronger dollar typically weighs on gold as it increases the appeal of yield-bearing assets such as US Treasuries. “Both retail and institutional investors are booking profits, as a further rise in the dollar could keep pressure on bullion prices,” said Naveen Mathur, director for commodities and currencies at Anand Rathi Shares & Stock Brokers.

Gold prices advanced by Rs 5,091 to reach Rs 1.44 lakh per 10 grams in futures trading on Wednesday, supported by firm global cues and a softer US dollar.

On the Multi Commodity Exchange, the April gold contract rose by Rs 5,091, or 3.66%, to Rs 1,44,003 per 10 grams.

Market experts attributed the upward movement in bullion to strengthening sentiment across global commodity markets.

"Gold’s nearly 4% surge on MCX and silver’s sharp rebound were driven by a softer US dollar and easing inflation concerns as crude oil prices corrected. The pullback in energy markets helped temper expectations of higher global interest rates, offering additional support to precious metals. Meanwhile, reports suggesting the US is exploring ways to conclude the conflict with Iran boosted safe‑haven demand, amplifying the upside momentum in bullion today.

Gold’s upside today seems driven by value buying after recent sharp corrections, with attractive entry levels triggering renewed demand alongside short covering that lifted prices further.

Gold and silver may see a mild near‑term recovery, but breaking recent highs looks difficult. While supportive geopolitics could underpin sentiment, a firm US dollar is likely to cap strong upside, keeping price movements relatively restrained for now,” says Hareesh V, Head of Commodity Research, Geojit Investments Limited.

“The 100–150% surge in energy prices due to the West Asia conflict has lifted dollar demand, triggering a sell-off in bullion,” said Anindya Banerjee, head of commodity and currency research at Kotak Securities.

Banerjee said that a resolution to the conflict could reduce demand for the dollar and support a rebound in gold and silver. “We see gold moving towards $5,600 and silver crossing $100 within 1–2 years, making current dips an attractive entry point,” he said.

“Bullion prices are under pressure due to panic selling and fresh short positions. Investors are exiting in response to falling prices,” said Navneet Damani, head of research for commodities and currencies at Motilal Oswal Financial Services.

Gold has declined 21% from its record high of $5,595 per ounce to around $4,400 on Tuesday. Silver has fallen 43% to $69.3 from its lifetime peak of $121.7. Both metals had touched record highs in January following a strong rally in 2025, when gold surged 64% and silver jumped nearly 150%.

Precious metals, which were among investors’ favourites last year, have come under pressure following the sell-off triggered by the West Asia conflict. The decline has wiped out a large portion of gold’s earlier gains and pushed silver into negative territory for 2026. However, a reversal in the strengthening dollar could provide an opportunity for investors expecting a rebound.

Since February 27, when the conflict began, gold prices have fallen 16%, while silver has dropped 26%. After this correction, gold is still marginally higher by about 1% for the year, whereas silver remains down around 5% in 2026.

Gold and silver prices rebounded sharply on Wednesday on the Multi Commodity Exchange of India after witnessing heavy selling in the previous two sessions. The recovery was aided by a softer dollar, while easing oil prices helped reduce concerns over inflation and the trajectory of global interest rates.

US President Donald Trump said that Washington and Tehran are “currently in negotiations” and indicated that Iran is keen to reach a peace agreement, although the country has denied engaging in any direct talks with the United States.

On the MCX, silver futures for May 2026 delivery rose by Rs 12,196, or 5.4%, to Rs 2,36,137 per kilogram. Gold futures for April 2026 delivery also advanced, gaining Rs 5,522, or 4%, to Rs 1,44,434 per 10 grams.

Spot gold, which had declined for nine consecutive sessions, is now stabilising at around USD 4,420 per ounce in international markets, supported by cautious optimism surrounding the Iran conflict, said Praveen Singh, Head of Commodities at Mirae Asset ShareKhan. He noted that US President Donald Trump had announced a five-day pause on strikes targeting energy infrastructure in Iran, lifting market sentiment slightly.

However, Singh pointed out that uncertainty persists over how effective the ceasefire will be, which is keeping investor sentiment guarded.

Analysts added that conflicting signals on the geopolitical front are expected to keep bullion prices volatile in the near term.

"Commodity markets corrected sharply last week, with both oil and gold retreating from recent highs. Brent crude, which had touched levels near USD 101/bbl, fell more than 10% to around USD 91/bbl, easing immediate concerns over India’s oil import bill, current account deficit, and rupee pressures. International gold prices also dropped over 10%, marking the steepest weekly fall in decades, though they remain more than 40% higher year on year. For India, every USD 10/bbl swing in crude typically shifts the CAD by 0.3–0.5 percentage points of GDP and raises CPI inflation by 20–30 bps, depending on pass through. The recent moderation in both commodities offers temporary relief, trimming the worst case downside for the rupee after it briefly slipped past 93 per US dollar. However, with a wide trade gap and elevated gold imports, any renewed spike in crude or capital outflows could quickly reignite depreciation pressures,” says Rajeev Sharan, Head of Research, Brickwork Ratings.

Oil prices dropped below $100 per barrel on expectations that a potential ceasefire could ease supply disruptions from the key Middle East producing region, helping to cool inflation concerns.

US President Donald Trump said on Tuesday that progress was being made in negotiations to end the conflict with Iran, including securing a key concession from Tehran. A source also confirmed that Washington has sent Iran a 15-point proposal aimed at resolving the situation.

Interest rate futures tracked by the CME Group’s FedWatch tool indicate that expectations for a US Federal Reserve rate cut this year have largely been ruled out.

Commenting on the trend of gold prices, Christopher Wong, a strategist at OCBC told Reuters that easing tensions in the Middle East, combined with a softer dollar, have revived demand for safe-haven assets. He noted that gold had not lost its appeal but was temporarily overshadowed by dollar strength, and is now regaining traction as that pressure subsides.

Wong added that in the near term, gold is expected to remain sensitive to expectations around US Federal Reserve policy, movements in the dollar and geopolitical developments, although the recent rebound suggests declines may continue to find support unless real yields rise significantly.

Spot gold advanced 2.5% to $4,587.09 per ounce as of 0218 GMT, while US gold futures for April delivery jumped 4.2% to $4,586.10.

Among other precious metals, spot silver rose 3.6% to $73.78 per ounce. Platinum gained 2.2% to $1,978.10, while palladium was up 1.5% at $1,461.56.