Gold, silver rates today: Amid signs of de-escalation in US-Iran war, COMEX gold above $4,600/oz, silver price jumps 7%
Gold, silver rates today: Gold and silver rates today snapped their losing run on Wednesday, March 25, gained as much as 7% on reports that the US is pursuing a diplomatic resolution to the conflict with Iran, even as it continues to deploy additional troops to the Middle East.
COMEX gold rate today jumped around 4% to $4,600 per ounce, while COMEX silver prices surged 7% to $74.42 per ounce, during the Asian trading hours on Wednesday.
Why are gold and silver prices rising today?
According to a Bloomberg report, US President Donald Trump indicated that Iran had offered a “present” to demonstrate goodwill in negotiations, saying it was linked to energy flows through the Strait of Hormuz.
Washington and regional mediators are exploring the possibility of high-level peace talks as early as Thursday, though they are still awaiting a response from Tehran, the report said.
However, the conflict showed no signs of easing, with Iran maintaining firm control over Hormuz and Israel continuing its strikes on the Islamic Republic. The Trump administration has directed the Army’s 82nd Airborne Division to deploy around 2,000 troops to the Middle East, adding to nearly 5,000 personnel expected to arrive in the region in the coming days.
The surge in energy prices due to the conflict has heightened inflation risks, prompting investors to anticipate higher interest rates. This has weighed on non-yielding assets like gold. At the same time, declines in global equities and bonds have forced investors to liquidate gold holdings to raise cash, further deepening losses in bullion since the conflict began over three weeks ago.
There have also been indications that central banks are offloading gold to support their currencies. The Central Bank of the Republic of Turkey is reportedly preparing additional measures to stabilise the lira amid war-driven volatility, including potentially utilising its substantial gold reserves. The bank has also discussed possible gold-for-foreign-currency swap arrangements in the London market, according to sources familiar with the matter.
Gold and silver prices outlook
According to Jateen Trivedi, VP Research Analyst – Commodity and Currency at LKP Securities, precious metals are expected to remain highly sensitive to geopolitical headlines, with volatility likely to persist as markets react to further developments in the ongoing conflict.
“Gold remained highly volatile, with prices recovering from a weak opening, largely driven by short covering and easing geopolitical risk sentiment. However, the upside remains capped because the broader macro environment remains unsupportive. Despite temporary relief, markets continue to factor in inflation risks from elevated crude prices and uncertainty around the interest rate trajectory, which keeps gold sentiment fragile,” Jateen said.
On the gold prices outlook, Ponmudi R, CEO of Enrich Money, said that the broader trend remains bearish, but geopolitical uncertainty continues to provide intermittent safe-haven support.
“COMEX Gold is trading within the $4,300–$4,380 range after a sharp correction, staying below key short-term moving averages. On the upside, $4,470–$4,500 is the immediate resistance band. A sustained move above $4,550 can push prices toward $4,700–$4,750. On the downside, a break below $4,250 may accelerate selling toward $4,100–$4,150. The structure remains weak unless key resistance levels are reclaimed,” Ponmudi said.
Meanwhile, on the silver prices outlook, he added that the industrial demand is offering limited support, but momentum remains weak.
“COMEX Silver is holding above $64 after a corrective phase, but continues to trade with a bearish undertone. The $68–$70 zone is a strong resistance band. A breakout above $70 is required for a bullish reversal toward $72–$74. Failure to hold above $65 can push prices toward $64–$61, with deeper support at $57–$59. The trend remains weak unless resistance is broken,” he said.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
