Rates of Gold and Silver Today: As US-Iran tension eases, COMEX gold falls below $4800 and silver declines 10%. The US One dollar
Rates for Gold and Silver Today: While the COMEX silver rate fell below $70/oz and reached an intraday low of $63.900 per ounce today, the COMEX gold rate saw heavy selling today and fell as low as $4,671.74/oz.
Current Gold and Silver Prices: Within minutes after the Opening Bell today, the COMEX gold and silver rates had a technical breakdown, continuing the downward trend that began Friday for the second consecutive session. The COMEX gold rate reached an intraday low of $4,671.74 per ounce today after breaking below the critical $4,750/oz support. Similarly, within minutes of the Opening Bell, the COMEX silver rate dropped below the critical support level of $70/oz and to an intraday low of $63.900/oz.
The gold futures contract for the April 2026 expiry on MCX ended Thursday at ₹1,52,260 per 10 gm, some ₹28,500 less than its record high of ₹1,80,779 per 10 gm. On the other hand, the MCX gold price in India ended Thursday slightly higher. In a similar vein, the MCX silver rate concluded at ₹2,46,452 per kg, or ₹1,73,500 less than the record high of ₹4,20,048 per kg. On Friday of last week, MCX gold and silver rates reached the aforementioned record highs. Therefore, significant declines in the prices of gold and silver today have only happened in four sessions.
Market experts claim that the strong US dollar (USD) is driving down the price of gold and silver. They claimed that because Iran and the US are scheduled to begin nuclear talks in Oman on Friday, tensions between the two countries have decreased. This has weakened the demand for gold and silver as safe havens and made the USD stronger relative to the other major world currencies.
Current Gold and Silver Rates: What is causing today's decline in gold and silver rates?
Why are the prices of gold and silver currently under pressure? "Gold and silver rates are under pressure today because of the easing US-Iran tension," stated Anuj Gupta, a market analyst registered with SEBI. Both nations have said that they will start negotiations for a potential nuclear agreement. This Friday, or today, is the first meeting between the United States and Iran. This has hurt the market for gold and silver as safe havens and increased demand for the US dollar relative to other major world currencies.
Amit Goel, Chief Global Strategist at PACE 360, stated, "The precious metal and base metal rally has topped out," making it evident that the prices of gold and silver have peaked. As we saw on Tuesday and Wednesday, those with higher-level positions are recommended to leave during the dead-cat bounce. Precious metals will now rise higher and deeper while gradually but steadily returning to their fair value, which is still much below the current levels.
US-Iran nuclear talks The United States and Iran are scheduled to begin nuclear talks on Friday in Oman, resuming a diplomatic path that was sidetracked by Israel's 12-day war on Iran in June and the wave of nationwide protests that followed, which led to Tehran's deadly crackdown.
The US-Iran talks come as the United States President Donald Trump intensifies pressure on the Islamic Republic, warning of possible US military action if Iran pursues mass executions linked to the protests, and reintroducing Iran’s nuclear programme as a central foreign policy battleground after months of regional escalation.
Current Gold and Silver Prices: Within minutes after the Opening Bell today, the COMEX gold and silver rates had a technical breakdown, continuing the downward trend that began Friday for the second consecutive session. The COMEX gold rate reached an intraday low of $4,671.74 per ounce today after breaking below the critical $4,750/oz support. Similarly, within minutes of the Opening Bell, the COMEX silver rate dropped below the critical support level of $70/oz and to an intraday low of $63.900/oz.
The gold futures contract for the April 2026 expiry on MCX ended Thursday at ₹1,52,260 per 10 gm, some ₹28,500 less than its record high of ₹1,80,779 per 10 gm. On the other hand, the MCX gold price in India ended Thursday slightly higher. In a similar vein, the MCX silver rate concluded at ₹2,46,452 per kg, or ₹1,73,500 less than the record high of ₹4,20,048 per kg. On Friday of last week, MCX gold and silver rates reached the aforementioned record highs. Therefore, significant declines in the prices of gold and silver today have only happened in four sessions.
Market experts claim that the strong US dollar (USD) is driving down the price of gold and silver. They claimed that because Iran and the US are scheduled to begin nuclear talks in Oman on Friday, tensions between the two countries have decreased. This has weakened the demand for gold and silver as safe havens and made the USD stronger relative to the other major world currencies.
Current Gold and Silver Rates: What is causing today's decline in gold and silver rates?
Why are the prices of gold and silver currently under pressure? "Gold and silver rates are under pressure today because of the easing US-Iran tension," stated Anuj Gupta, a market analyst registered with SEBI. Both nations have said that they will start negotiations for a potential nuclear agreement. This Friday, or today, is the first meeting between the United States and Iran. This has hurt the market for gold and silver as safe havens and increased demand for the US dollar relative to other major world currencies.
Amit Goel, Chief Global Strategist at PACE 360, stated, "The precious metal and base metal rally has topped out," making it evident that the prices of gold and silver have peaked. As we saw on Tuesday and Wednesday, those with higher-level positions are recommended to leave during the dead-cat bounce. Precious metals will now rise higher and deeper while gradually but steadily returning to their fair value, which is still much below the current levels.
US-Iran nuclear talks The United States and Iran are scheduled to begin nuclear talks on Friday in Oman, resuming a diplomatic path that was sidetracked by Israel's 12-day war on Iran in June and the wave of nationwide protests that followed, which led to Tehran's deadly crackdown.
The US-Iran talks come as the United States President Donald Trump intensifies pressure on the Islamic Republic, warning of possible US military action if Iran pursues mass executions linked to the protests, and reintroducing Iran’s nuclear programme as a central foreign policy battleground after months of regional escalation.
Comments
Post a Comment