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On Tuesday, gold and silver prices moved higher in both domestic and international markets as investors turned towards safe-haven assets following fresh geopolitical concerns.
On the MCX, June gold futures started the session at Rs 1,53,999 per 10 grams. The contract registered a rise of Rs 336 from the previous close of Rs 1,53,663.
During morning trade, the contract climbed to an intraday high of Rs 1,54,243 before easing slightly. At around 10:25 AM, gold was trading at Rs 1,53,808, up Rs 145. The day’s low stood at Rs 1,53,771.
Silver also witnessed strong buying interest. July futures on MCX opened at Rs 2,80,229 per kg, gaining Rs 1,988 over the previous settlement price of Rs 2,78,311.
The metal later surged to an intraday high of Rs 2,82,755, marking a jump of Rs 4,444. The contract recorded an intraday low of Rs 2,79,244.
Commodity analysts said the near-term trend for precious metals continues to remain positive due to persistent geopolitical uncertainty.
According to experts, gold may face resistance in the Rs 1,54,750 to Rs 1,55,000 range. A breakout above those levels could push prices towards Rs 1,56,000. They added that Rs 1,53,000 remains an important support zone, and a decline below that level could pull prices back into the Rs 1,51,500 to Rs 1,53,500 range.
For silver, analysts identified Rs 2,84,000 to Rs 2,85,000 as the next resistance band. If momentum continues, prices could move towards Rs 2,87,000 and possibly test Rs 2,90,000. Support levels were placed at Rs 2,77,000, followed by Rs 2,75,000 and Rs 2,71,000.
Globally, COMEX gold traded at $4,733 per ounce, while COMEX silver rose more than 1 per cent to $86 per ounce.
Market sentiment remained cautious after US President Donald Trump rejected Iran’s latest peace proposal, increasing concerns over global stability.
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