Gold, silver prices gain amid easing US-Iran tensions
What's the story
Gold and silver prices witnessed an uptick on Tuesday, mirroring global trends as investors kept a close watch on geopolitical developments and their potential impact on inflation and economic stability. On the COMEX, gold was trading at $4,795 per ounce, up 0.57% after hitting an intraday high of $4,803 per ounce. Silver outperformed with a 2.02% rise to $77.19 per ounce near session highs.
Market dynamics
Hopes of US-Iran talks boost risk assets
The rise in precious metals comes amid a wider shift in global markets, where investor sentiment has improved on hopes of a possible second round of talks between the US and Iran. Hopes for de-escalation in the ongoing conflict have supported risk assets while leaving uncertainty intact for safe-haven demand. Asian equity markets traded higher, mirroring gains on Wall Street with Japan's Nikkei 225 surging 2.4% and South Korea's Kospi advancing 3.4%.
Oil market
Oil prices ease from recent highs
Meanwhile, oil prices eased from recent highs with Brent crude falling 1.3% to $98.12 per barrel and US crude dropping 2.2% to $96.92. The pullback follows a sharp rally earlier in the week driven by supply concerns linked to disruptions in the Strait of Hormuz. Elevated energy prices continue to pose upside risks to global inflation, indirectly supporting gold's appeal as a hedge against economic instability and uncertainty.
Market closure
Indian market closed for half-day
Back home, domestic bullion markets are closed for a half-day trading holiday on April 14, with commodity exchanges such as MCX shut for part of the session. As a result, Indian gold and silver prices are likely to take cues from international markets once trading resumes. Beyond short-term movements, gold continues to hold relevance in long-term portfolios with FundsIndia's Wealth Conversations Report (April 2026) indicating that the metal has delivered around 15% compounded annual returns over the past two decades.