Gold and silver prices showed mixed trends on wednesday as global uncertainty and volatile crude oil prices influenced investor sentiment. Gold prices remained largely steady near ₹1.54 lakh per 10 grams in futures trade, while silver prices declined by around ₹1,600 per kilogram in early sessions, highlighting uneven movement in the bullion market.
The primary driver behind this volatility is the ongoing geopolitical tension in the Middle East, particularly involving Iran. Rising crude oil prices have added to inflation concerns, prompting investors to remain cautious and limiting strong directional moves in precious metals.
During the day, however, market sentiment improved slightly following reports of a temporary ceasefire between the United States and Iran. This development led to a rebound in bullion prices in global and domestic markets. Gold saw mild gains, supported by its safe-haven appeal, while silver recovered sharply in later trade, reflecting its dual role as both a precious and industrial metal.
In the domestic physical market, gold prices continued to hover above ₹1.5 lakh per 10 grams for 24-carat purity across major cities, including Delhi, Mumbai, and Chennai. Silver prices also experienced sharp intraday fluctuations, mirroring global trends and heightened market uncertainty.
Globally, gold prices stayed firm near recent highs as investors balanced safe-haven demand with improving risk sentiment. Silver, on the other hand, remained more volatile, reacting strongly to both geopolitical cues and industrial demand expectations. Analysts note that movements in the US dollar, crude oil prices, and interest rate outlook continue to play a key role in shaping bullion trends.
Despite the fluctuations, experts advise investors to remain cautious. Markets are highly sensitive to geopolitical developments, and any escalation in tensions could push gold prices higher. Conversely, easing tensions may reduce demand for safe-haven assets and cap further upside.