Gold, Silver Prices Swing Amid Rising Geopolitical Tensions

Gold and silver prices traded unevenly on Tuesday as geopolitical tensions escalated following strong remarks by Donald Trump on Iran.

On the Multi Commodity Exchange (MCX), gold futures for June 5 were trading at Rs 1,50,228, up Rs 247 or 0.16 per cent late morning, after witnessing both gains and losses earlier in the session.

During intraday trade, gold rose as much as 0.32 per cent to Rs 1,50,474, having earlier slipped 0.23 per cent to Rs 1,49,625 before 10 a.m., reflecting heightened market uncertainty.

Silver futures for May 5 also displayed volatility, trading 0.48 per cent higher at Rs 2,34,500. The metal surged nearly 1 per cent to an intraday high of Rs 2,35,547 after falling 0.67 per cent to a low of Rs 2,31,800 earlier in the day.

Analysts noted that despite ongoing geopolitical concerns, precious metals have not demonstrated strong safe-haven demand.

MCX silver continues to fluctuate within the Rs 2,31,000–Rs 2,33,000 range, with resistance seen near Rs 2,34,000.

A breakout above this level may support further gains, while a drop below Rs 2,30,000 could accelerate losses.

In the international market, metals traded largely flat. COMEX gold stood at $4,681.34, marginally lower, while COMEX silver edged slightly higher to $72.94.

Spot gold hovered near $4,653 while silver stayed subdued around $72.78.

Volatility rose as Donald Trump set a deadline for Iran on the Strait of Hormuz, with Tehran signalling willingness to ease tensions but resisting pressure.

Meanwhile, crude prices surged, with Brent nearing $111.63 and WTI jumping over 3 per cent, heightening global market concerns.

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