Geopolitical jitters took center stage in commodity trading Friday, propelling gold and silver prices to notable gains on the MCX. US-Iran frictions, marked by stalled nuclear negotiations and new sanctions, overshadowed a softening US dollar.
Intra-day highs saw April gold futures climb 0.30% to ₹1,60,719 per 10 grams, while March silver vaulted more than 3% to ₹2,68,301 per kg. At mid-afternoon, gold held a 0.40% gain at ₹1,60,354, and silver advanced 2.69% to ₹2,66,650.
Nuclear talks between the adversaries have been deferred without breakthroughs, amplifying risks. US troop buildups and sanctions targeting Iran’s energy and weapons sectors have spurred safe-haven buying.
The dollar index edged down 0.04% to 97.76, easing after peaking at four-week highs and aiding bullion’s appeal. US economic strength has dimmed rate-cut bets, adding another layer to the complex dynamics.
Domestically, SEBI’s overhaul of ETF valuation for physical gold and silver promises fairer pricing aligned with local markets, boosting transparency across fund houses from April 2026.
Expert commentary underscores resilience: Gold’s range-bound action post-record highs signals consolidation, not weakness, with long-term bulls intact. Silver’s key support at ₹2,25,000-₹2,35,000 paves the way for ambitious targets if breached upward.
In an era of persistent global flashpoints, gold and silver’s allure as portfolio stabilizers remains undiminished, drawing savvy investors seeking stability.