25 May,2026 12:32 PM IST | Mumbai | mid-day online correspondent
Safe-haven demand lifts gold and silver. Representational Image
Gold and silver prices traded higher on Monday, rising by up to nearly 2 per cent. The gains came as the US dollar weakened and crude oil prices slipped sharply. Investors also reacted to hopes of progress in US-Iran peace negotiations, which improved sentiment in global markets, as per IANS.
On the Multi Commodity Exchange (MCX), gold futures for June 5 were up 0.36 per cent or Rs 566, opened at Rs 1,59,245 in early trade.
During the day, gold moved between Rs 1,59,014 and Rs 1,59,500, marking a steady upward trend. It was up about 0.21 to 0.51 per cent during intraday trade compared to the previous close of Rs 1,58,679, reported the news agency.
Silver futures for July 3 saw stronger gains, rising nearly 2 per cent or about Rs 5,400 to hit an intraday high of Rs 2,77,245. At the last update, silver was trading at Rs 2,76,427, up 1.7 per cent or Rs 4,581. It moved between Rs 2,75,428 and Rs 2,77,245 during the session, as per the news agency.
Mumbai bullion markets opened on May 25 with silver spot priced at Rs 2,69,754 per kilogram, while standard gold (99.5 purity) stood at Rs 1,57,987 and pure gold (99.9 purity) was quoted at Rs 1,58,622, according to PTI reports.
Commodity market experts said gold continues to show a cautious but positive trend, holding above the Rs 1,59,000 level.
As per IANS reports, an analyst noted, "Immediate resistance is seen in the Rs 1,59,500-Rs 1,60,000 range, while a sustained breakout could push prices towards Rs 1,61,000. On the downside, support is placed around Rs 1,58,000-Rs 1,57,500."
For silver, experts said it remains firm despite volatility. A sustained move above Rs 2,77,000 could push prices towards Rs 2,79,000-Rs 2,80,000, while support lies near Rs 2,73,000.
As per IANS reports, another expert added, "Safe-haven demand and geopolitical developments continue to influence the direction of precious metals."
In international markets, precious metals also traded higher.
-COMEX gold rose 0.75 per cent to USD 4,557.30 per ounce
-COMEX silver gained over 2 per cent to USD78.015 per ounce
Global crude oil prices, however, declined sharply, supporting precious metal gains. Brent crude fell 6 per cent to USD 97.16 per barrel US West Texas Intermediate (WTI) crude also dropped more than 6 per cent to USD 90.33 per barrel, reported the news agency.
The fall in oil prices, along with geopolitical developments, added to market volatility and influenced investor flows into safe-haven assets like gold and silver.
Analysts said precious metals remained supported by safe-haven demand, weak dollar trends and geopolitical uncertainty, with investors closely tracking developments in global peace talks and crude oil movements.
(With IANS Inputs)
