Gold & Silver Rates Today Live: MCX Gold Price Recovers Losses In Evening Session, Silver Price Still Down

Gold rates and silver rates in India witnessed volatility after Israel attacked Lebanon, bringing the US-Iran ceasefire into a dire situation. Spot gold is trading above $4,720 per ounce and spot silver is struggling below $75 per ounce. Both the precious metals are trading sideways. MCX gold tumbled below Rs 1.52 lakh mark and MCX silver is struggling around Rs 2.35 lakh mark.

On the other hand, crude oil prices climbed by 2% to 3% to trade between 96-98 per barrel. Also, the dollar climbed above 99, recovering heavy losses from the previous session.

Investors assessed a fragile ceasefire in the Middle East amid sporadic fighting and lingering uncertainty over the reopening of the Strait of Hormuz. Iranian media reported that oil tanker transit through the strait had been halted after Israeli strikes on Lebanon, while a senior Iranian official said three provisions of the ceasefire proposal had already been breached. Meanwhile, US Vice President JD Vance said there are indications the strait may begin reopening as he leads a US delegation to Islamabad for direct talks with Iran, as per Trading Economics.

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