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Gold and silver prices moved higher on Tuesday, recovering after recent losses as expectations of easing tensions between the United States and Iran lifted market sentiment.
In global trade, COMEX gold climbed 0.74 per cent to reach an intraday level of $4,802.80, regaining much of the ground lost over the past two sessions. COMEX silver also advanced, rising 2 per cent to $77.16 per ounce.
The upward movement in bullion came alongside signs of possible diplomatic engagement between the two countries.
US President Donald Trump indicated that Iranian representatives had shown interest in negotiations, while Iranian President Masoud Pezeshkian reportedly expressed readiness to continue discussions within international legal frameworks.
Despite this, concerns linked to the US naval blockade of the Strait of Hormuz remain in place, keeping investors cautious about potential disruptions to global supply chains.
Oil prices, however, declined during the session. Brent crude dropped to $96.6 per barrel, while West Texas Intermediate (WTI) fell to $95.69, both slipping below the $100 mark.
Equity markets showed positive momentum. Major US indices, including the S&P 500 and the Nasdaq Composite, closed with gains of over 1 per cent. Asian markets also recorded advances, with Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, and South Korea’s KOSPI rising notably.
In India, trading activity remained limited due to the observance of Dr BR Ambedkar Jayanti. Both the Bombay Stock Exchange and the National Stock Exchange of India were closed, while the Multi Commodity Exchange (MCX) suspended its morning session and will reopen later in the day.
Market participants continue to monitor geopolitical developments closely, as any escalation or resolution could significantly influence commodity and financial markets.
Also Read: Oil Prices Fall Nearly 3% As US-Iran Talks Ease Supply Concerns
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