Gold and Silver Prices Surge Amid Easing West Asia Tensions
Mumbai, March 25 – Gold and silver prices witnessed a significant increase on Wednesday, driven by easing tensions in the West Asia conflict.On the Multi Commodity Exchange (MCX), gold futures (April 2) rose as much as Rs 5,658, or approximately 4%, to a day’s high of Rs 1,44,570 per 10 grams by 10:26 am. The yellow metal later traded at Rs 1,44,410, up Rs 5,498, or 3.96%.
Similarly, silver futures (May 5) jumped by around 6%, or Rs 13,228, hitting a day’s high of Rs 2,14,500 per kg during the session.
In the international market, COMEX gold was trading at $4,633.17, up 4.48%, while COMEX silver rose by 7.5% to $74.8.
Analysts indicated that MCX gold is currently trading within the range of Rs 1,43,000 to Rs 1,45,000, reflecting underlying strength. They identified immediate resistance at Rs 1,48,000, with potential upside towards Rs 1,55,000 to Rs 1,57,000. Support levels were placed between Rs 1,37,000 and Rs 1,40,000.
Silver also remained firm across markets. MCX silver faces resistance at Rs 2,40,000, while key support lies near Rs 2,27,000, according to analysts.
The price increases followed reports of a 15-point ceasefire plan offered by the US administration to Iran, facilitated by intermediaries from Pakistan who have offered to host renewed negotiations between Washington and Tehran. The US military is preparing to send at least 1,000 more troops to supplement approximately 50,000 troops already deployed in the Middle East. Earlier, US President Donald Trump stated that Washington and Tehran had held “very good and productive conversations,” deferring any military action targeting Iran’s power plants and energy infrastructure for five days pending further discussions. However, Iran’s parliamentary speaker Mohammad-Bagher Ghalibaf dismissed reports of talks.
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