Gold price today: Precious metals—gold and silver—held firm in Friday’s session, as rising tensions in the Middle East continued to support safe-haven demand, while uncertainty over US trade policy kept risk-off sentiment intact, positioning gold for its seventh consecutive monthly gain and silver for its tenth straight monthly advance.
The April futures contract on Comex advanced $65 per troy ounce to a day’s high of $5,259 on 27 February. Silver prices rose even more sharply, with the March silver futures contract on Comex surging $5.75 per troy ounce, crossing the $93 mark to hit $93.33.
Overnight, prices had settled with a drop of $3.40 per troy ounce but recouped all of the losses in today’s session, placing the metal on track for its best weekly performance in a month.
Geopolitical risks remain elevated; tariff outlook remains unclear
On the geopolitical front, the United States and Iran held indirect talks in Geneva on Thursday over their long-running nuclear dispute, with the Omani mediator saying the two sides had made progress. They plan to resume negotiations next week with technical-level discussions in Vienna.
Earlier this week, US President Donald Trump said that Iran wants to make a “deal” more than the US, while Tehran’s refusal to commit to not developing nuclear weapons remains a key sticking point holding up the agreement.
Trump briefly laid out his case for a possible attack on Iran in his State of the Union speech on Tuesday, saying he would not allow a country he described as the world’s biggest sponsor of terrorism to have a nuclear weapon.
On the tariffs front, US Trade Representative Jamieson Greer, on Wednesday, announced that the US tariff rate for certain countries could rise to 15% or higher from the recently implemented 10%, without providing further specifics.
The country began collecting a temporary 10% global import tariff on Tuesday, but Donald Trump had earlier raised global tariffs to 15% shortly after announcing the initial 10%, following the Supreme Court’s decision to strike down Trump’s reciprocal tariffs.
Trump earlier this week warned countries against backing away from recently negotiated trade deals, saying that he would hit them with much higher duties under different trade laws.
MCX gold rises over ₹₹2,100 per 10g; silver near ₹Rs 2.80 lakh per kg
In the domestic market, the ₹2,156″>April gold futures contract on MCX gained ₹2,156 per 10 grams to reach the day’s high of ₹1,61,865. From the month’s low, gold has regained ₹25,680, yet it is still down by ₹18,914 from its record peak of ₹1,80,779.
Meanwhile, the March silver futures contract gained even more sharply, rising by ₹20,131 per kilogram to touch the day’s high of ₹2,79,800, the highest level since early February.
After facing a historic sell-off in late January, the white metal staged a strong comeback, ₹53,724 from recent lows, though prices are still far from the historic peak of ₹4,20,048″>recovering ₹53,724 from recent lows, though prices are still far from the historic peak of ₹4,20,048.
(With inputs from Reuters)
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