Precious metals saw significant gains on Thursday, driven by optimistic geopolitical signals. Both gold and silver futures surged on the Multi Commodity Exchange (MCX) following remarks from former US President Donald Trump regarding easing tensions in West Asia.
The yellow and white metals posted impressive intraday highs. The surge reflects a temporary shift in market sentiment, bolstered by optimism surrounding de-escalation efforts in the region.
Gold and Silver Register Major Gains on MCX
Gold futures demonstrated notable upward momentum on the exchange. On the MCX, the gold futures (June 5 contract) climbed as much as 0.67 per cent or Rs 1,042, peaking at an intraday high of Rs 1,54,990 by 10.57 a.m.In the current session, the yellow metal was trading at Rs 1,54,911, which marked a rise of Rs 963 or 0.63 per cent. Silver futures mirrored this rally, jumping up 1.58 per cent or Rs 3,993 to touch an intraday high of Rs 2,55,735.
The white metal showed strong performance, trading at Rs 2,54,997. This represented a gain of Rs 3,255 or 1.3 per cent for silver, successfully logging an intraday high amid the global rally.
Geopolitical Catalysts Drive Safe-Haven Demand
The primary catalyst for the rally was the suggestion of reduced geopolitical risk. The movement followed Donald Trump’s posts indicating efforts to create "a little breathing room between Israel and Lebanon."Trump also highlighted the permanent opening of the Strait of Hormuz, stating that China was "very happy" with the development. These remarks contributed to a heightened sense of easing global tensions, fueling classic safe-haven buying interest in precious metals.
Expert View: Tracking the Technical Outlook for Metals
Commodities experts note that while sentiment remains mildly positive due to macroeconomic support, sustained momentum requires further confirmation. The immediate uptrend is being weighed against key technical resistance and support levels.For gold, analysts suggest the metal is currently consolidating in the Rs 1,54,500–Rs 1,55,000 range. A sustained breakout above Rs 1,55,000 could revive momentum toward the range of Rs 1,57,000–Rs 1,58,000. Conversely, a fall below Rs 1,54,000 may indicate a correction, potentially drawing prices towards Rs 1,52,000–Rs 1,51,000 and further to Rs 1,48,000.
Silver is showing strong safe-haven and industrial demand, hovering above Rs 2,54,000. Analysts point to resistance at Rs 2,60,000–Rs 2,63,000. Upside potential for the white metal is seen toward Rs 2,68,000–Rs 2,70,000. Caution is advised on the downside; breaking below Rs 2,50,000 might lead to a correction in the direction of Rs 2,44,000–Rs 2,40,000.
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