Gold, silver prices jump up to 3 pc despite easing West Asia tensions

On Monday, gold and silver rose, with precious metals climbing as much as 3% due to a softer US dollar and anticipation of upcoming Federal Reserve policy moves, boosting investor confidence.

These gains occurred despite easing geopolitical tensions after President Donald Trump said the United States and Iran had struck a peace accord, slated for formal signing on June 19.

On the MCX, August gold futures jumped up to 2.19% (about Rs 3,301), hitting an intraday peak of Rs 1,53,829 per 10 grams at roughly 11:45 a.m.

Later, the yellow metal traded at Rs 1,52,774, gaining Rs 2,246 (1.49%) over the prior close, after dipping to an intraday low of Rs 1,52,632.

Meanwhile, July silver futures saw strong buying, trading at Rs 2,53,345 per kilogram, up Rs 7,159, close to a 3% increase.

The white metal last traded at Rs 2,51,692, up Rs 5,500 (2.24%) from the previous close, after reaching an intraday low of Rs 2,51,425.

At the start of the session, gold opened at Rs 1,53,829 per 10 grams and silver at Rs 2,51,563 per kilogram on the exchange.

Market analysts said the gap‑up opening in MCX gold was driven by a weaker US dollar, with the dollar index lingering around 99.5 after slipping to a one‑week low post the US‑Iran peace announcement.

Analysts noted that gold retains a moderately bullish tilt, as investor attention moves from geopolitics to Federal Reserve monetary cues.

Experts added that silver has extended its bounce from recent lows, drawing support from gold’s strength, and its medium‑term outlook stays constructive.

In global markets, COMEX gold and silver also rose, indicating sustained investor interest in precious metals.

Meanwhile, crude oil prices slipped sharply after the peace deal eased worries about global energy supply disruptions. WTI crude dropped over 5% to roughly $80 a barrel, while Brent crude fell about 4% to near $83 a barrel.

Trump announced on Truth Social that the United States and Iran had finalized a peace agreement intended to end hostilities and reopen the Strait of Hormuz, a vital shipping lane that carries nearly one‑fifth of worldwide oil supplies.