Gold and silver prices began Wednesday’s session on a firmer note on the Multi Commodity Exchange of India, following the United States’ decision to prolong its ceasefire with Iran. The move helped calm fears of a sharp rise in inflation and reduced expectations that interest rates would remain elevated for an extended period.
On Tuesday, US President Donald Trump announced that the truce with Iran would be continued indefinitely, just hours before its scheduled expiry. However, the statement appeared to be one-sided, as there was no immediate response from Iran or US ally Israel on whether they would support extending the ceasefire, which has been in place for the past two weeks.
In the domestic derivatives market, silver futures for May 2026 delivery on MCX surged by Rs 4,800, or 2%, to Rs 2,49,423 per kilogram. Gold futures for June 2026 delivery also moved higher, rising Rs 2,000, or 1.3%, to Rs 1,53,699 per 10 grams.
