On the COMEX, gold was trading at $4,795 per ounce, up 0.57%, after touching an intraday high of $4,803 an ounce. Silver outperformed, rising 2.02% to $77.19 per ounce, with prices hovering near session highs.
The uptick in precious metals comes amid a broader shift in global markets, where investor sentiment has improved on expectations of a possible second round of talks between the United States and Iran. Hopes of de-escalation in the ongoing conflict have supported risk assets, while lingering uncertainty has kept safe-haven demand intact.
Asian equity markets traded higher, mirroring gains on Wall Street. Japan’s Nikkei 225 surged 2.4%, while South Korea’s Kospi advanced 3.4%. Markets in Hong Kong and China also posted modest gains, even as China reported weaker-than-expected export growth for March, highlighting underlying economic concerns.
Meanwhile, oil prices eased from recent highs. Brent crude fell 1.3% to $98.12 per barrel, while US crude dropped 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.
In currency markets, the US dollar weakened slightly against the Japanese yen, while the euro edged higher, providing additional support to bullion prices.
Back home, domestic bullion markets remain shut for a half-day trading holiday on April 14, with commodity exchanges such as MCX closed for part of the session. As a result, Indian gold and silver prices are expected to take cues from international markets once trading resumes.
Beyond short-term movements, gold continues to hold relevance in long-term portfolios. According to FundsIndia’s Wealth Conversations Report – April 2026 edition, the metal has delivered around 15% compounded annual returns over the past two decades.
For now, market participants are expected to closely track geopolitical signals, crude oil trends, and currency movements, all of which remain key drivers for precious metals in the near term.
–With agencies inputs
