Gold and silver prices traded higher on Tuesday, following gains in global bullion markets as easing crude oil prices and continuing geopolitical tensions in the Middle East strengthened demand for safe-haven assets.
On the Multi Commodity Exchange (MCX), gold futures for August delivery rose by as much as 1.03 per cent, or ₹1,460, to an intraday high of ₹1,42,848 per 10 grams.
Silver futures for September delivery also gained 1.54 per cent, or ₹3,380, reaching an intraday high of ₹2,21,780 per kg.
Gold later traded at ₹1,42,741 per 10 grams, up ₹1,353 or 0.96 per cent after touching an intraday low of ₹1,42,157. Silver was quoted at ₹2,21,402 per kg, gaining ₹3,002 or 1.37 per cent after hitting a session low of ₹2,19,200.
Earlier in the day, the two precious metals had opened at ₹1,42,386 per 10 grams and ₹2,19,200 per kg, respectively.
The domestic rally mirrored global market trends after Brent crude slipped below the $90-a-barrel mark amid reports of diplomatic efforts to ease tensions in the Middle East.
International bullion prices also strengthened after oil retreated following reports that the United States had ended its latest round of airstrikes targeting Iran.
Brent crude had earlier climbed above $90 per barrel, fuelling inflation concerns and expectations of tighter monetary policy.
Analysts said bullion remains volatile as investors weigh geopolitical risks against the US Federal Reserve’s rate outlook, with safe-haven demand continuing to support gold despite a stronger US dollar.
Also Read: Gold And Silver Prices Today: Bullion Gains On Weaker US Dollar
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