Gold and silver are likely to open higher in Tuesday’s evening session, supported by hopes of de-escalation in the West Asia conflict and improving global sentiment.
Tracking international trends, spot gold rose sharply, while US gold futures also recorded gains. Silver followed a similar trajectory, advancing significantly in global markets.
On the domestic front, MCX gold and silver futures ended Monday’s session on a muted note, reflecting cautious investor sentiment ahead of fresh global developments.
Despite the recent uptick, gold remains on track for its steepest monthly decline in over 17 years, as elevated energy prices have weighed on expectations of a US interest rate cut.
Market sentiment improved after signals from US President Donald Trump suggesting a possible end to military action against Iran, potentially triggering a risk-on mood across global markets.
Reports also indicated that the US may pause military operations even if the Strait of Hormuz remains partially closed, easing immediate concerns over supply disruptions.
Global crude oil prices declined, with Brent crude and US WTI futures trading lower, reflecting reduced geopolitical risk and softer demand expectations.
Although Indian stock markets remain closed on account of Mahavir Jayanti, easing tensions are expected to support investor sentiment in the near term.
Commodity trading on MCX will resume in the evening session, while GIFT Nifty futures indicated a positive trend, signalling cautious optimism in the markets.
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