Silver gains Rs 3,000, gold at Rs 1.52 lakh even as Iran war peace talks see no breakthrough. What should investors do?

Gold and silver prices opened mixed on the Multi Commodity Exchange of India on Monday as stalled US-Iran peace talks lifted oil prices, raising concerns that persistently high inflation may force central banks to keep interest rates elevated for a longer period.

Expectations of a near-term resolution to the 10-week-long U.S.-Iran conflict faded after US President Donald Trump on Sunday rejected Iran’s response to a U.S. peace proposal, calling it “unacceptable”.

In the domestic market, MCX silver futures for July 2026 delivery jumped Rs 3,000 or 1.1% to Rs 2,64,922 per kg. Gold futures for June 2026 delivery, on the other hand, dipped Rs 532 or 0.3% Rs 1,52,000 per 10 grams. In the previous session, the white metal ended Rs 3,500 higher, while gold closed flat.


On Sunday, Prime Minister Narendra Modi appealed to citizens to avoid buying gold for weddings for the next one year. The request was part of a wider appeal aimed at conserving fuel and foreign exchange reserves, with the Prime Minister also advocating the return of work-from-home practices

In the international market, spot gold slipped 0.6% to $4,684.32 per ounce while U.S. gold futures for June delivery declined 0.8% to $4,692.70. The dollar also strengthened, making dollar-denominated bullion costlier for buyers holding other currencies. Among other precious metals, spot silver gained 0.7% to $80.88 per ounce. Platinum fell 0.6% to $2,042.71, while palladium was down 0.4% at $1,484.99.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold and silver prices are expected to remain volatile this week amid fluctuations in the dollar index, volatility in crude oil prices and ahead of the upcoming U.S. inflation data.

According to Jain, gold has support at $4,681-4,640 per troy ounce, while resistance is placed at $4,770-4,810 per troy ounce. Silver has support at $78.80-76.60, while resistance is seen at $82.40-84.80 per troy ounce in today’s session.
On MCX, gold has support at Rs 1,51,650-1,50,800 and resistance at Rs 1,53,350-1,54,200, while silver has support at Rs 2,58,800-2,55,500 and resistance at Rs 2,66,600-2,70,000.

He suggested buying silver on dips around the Rs 2,58,800-2,55,500 range with a stop loss below Rs 2,51,000 for targets of Rs 2,66,600-2,70,000.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,11,832/8 grams while pure gold (24 carat) prices stand at Rs 1,21,992/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,11,712/8 grams while pure gold (24 carat) prices stand at Rs 1,21,872/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,13,192/8 grams while pure gold (24carat) prices stand at Rs 1,23,488/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,11,712/8 grams while pure gold (24 carat) prices stand at Rs 1,21,872/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)