Gold, silver prices surge over decline in oil prices reducing inflation concern
NEW DELHI: Gold and silver prices posted strong gains on Tuesday as the US dollar softened, and energy prices fell on signals from President Donald Trump that the conflict in the Middle East could be nearing an end.
MCX gold April futures gained 1.15 per cent to Rs 1,62,150 per 10 grams around 12.15 pm on an intraday basis. Meanwhile MCX silver May futures gained 3.68 per cent to Rs 2,77,000 per kg.
In international markets, spot silver climbed toward $82.50 per ounce, while spot gold rose to $5,082.51 per ounce.
The recovery followed US President Donald Trump’s remarks suggesting potential de‑escalation with Iran, though he warned US military action could escalate if tanker traffic through the Strait of Hormuz remained blocked.
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