Gold and silver surge up to 1 pc amid geopolitical uncertainty

NEW DELHI: Gold and silver prices traded higher on Thursday, with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the US-Iran peace deal.

On the Multi Commodity Exchange (MCX), gold futures (June 5) traded at an intraday high of Rs 1,52,887, up 0.49 per cent or Rs 755, as of 10:49 am. The yellow metal touched an intraday low of Rs 1,52,400.

Meanwhile, silver futures (July 3) were trading 1.49 per cent or Rs 3,790 higher at Rs 2,57,055 after hitting an intraday high. The white metal began the session at Rs 2,54,998 on the MCX, up 0.68 per cent or Rs 1,733. It touched an intraday low of Rs 2,54,722.

According to commodity market experts, the near-term outlook for precious metals remains positive amid improving sentiment and continued safe-haven demand driven by geopolitical uncertainties.

In the international market as well, precious metals were trading in the green. COMEX gold was up 0.21 per cent at $4,703 per ounce, while silver gained 1.12 per cent to trade at $78.17 per ounce.