Ceasefire between US and Iran lifts MCX gold and silver
Business
Gold and silver prices shot up on Wednesday morning after the US and Iran agreed to a ceasefire, calming global tensions.
On the MCX, gold reached ₹154,363 per 10gm (up ₹4,074 or 2.7%), while silver jumped to ₹245,228 per kilogram (up ₹13,880 or 6%).
Traders reallocate as volatility persists
Traders are shifting their investments as global conditions change (think falling oil prices and currency swings) even though safe-haven demand usually dips when things calm down.
Manoj Kumar Jain says volatility is likely to stick around thanks to the dollar index and upcoming Fed updates.
He also points out that gold could bounce between ₹147,200-₹155,000 and silver between ₹224,000-₹244,000 for now.