Key facts
- Silver and gold prices surged on Friday, extending a two-day rally.
- Gold and silver ETFs gained up to 5% on Friday.
- The price increase is attributed to optimism over a potential US-Iran peace deal.
- Crude oil prices fell to a two-month low due to the peace deal optimism.
- MCX silver futures for July 2026 delivery rose 2% to Rs 2,44,817 per kg.
- MCX gold futures for August 2026 delivery rose Rs 649 to Rs 1,49,581 per 10 grams.
Gold and silver prices surged on Friday, extending a two-day rally driven by optimism over a potential US-Iran peace deal. This sentiment also led to a drop in crude oil prices to a two-month low.
On the Multi-Commodity Exchange (MCX), silver futures for July 2026 delivery rose by Rs 5,167 (2%) to Rs 2,44,817 per kg. Gold futures for August 2026 delivery gained Rs 649 to Rs 1,49,581 per 10 grams. Over the past two days, silver has increased by Rs 10,012 (4%), and gold has surged by Rs 1,600.
Several gold and silver ETFs saw significant gains, with Baroda BNP Paribas Gold ETF and 360 One Silver ETF leading the rally with 5% increases. Other ETFs also posted gains of 2-4%.
US President Donald Trump suggested a deal with Iran could be reached imminently, with key points approved by multiple parties. However, international spot gold dipped 0.5% to $4,191.17 per ounce, and spot silver fell 0.4% to $67.10 per ounce, both heading for weekly losses.
Analysts at Prithvi Finmart, including Manoj Kumar Jain, advised investors to maintain stop losses and book profits at target levels, providing specific trading ranges for gold and silver.