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• Big rise in gold and silver rates
• What did the experts advise?
• Safe-haven assets like gold remain under pressure

Gold Silver Price Prediction: On Wednesday, gold and silver prices on the ‘Multi Commodity Exchange’ (MCX) witnessed a sharp rise. The depreciation of the US dollar and the drop in crude oil prices have eased inflationary concerns somewhat. In addition, the expectation that interest rates will remain high for a long period of time has also come down to some extent. Furthermore, the prospect of a possible peace deal between the US and Iran has boosted investor confidence and is having a direct impact on gold and silver prices.

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Wedding season

With the wedding season now underway, the main question on people’s minds is what will be the gold and silver rates in the coming weeks. On Wednesday, gold and silver rates on the MCX saw a sharp rise. Silver futures for delivery in July 2026 rose by ₹7,684, or 3.1 per cent, to ₹2,52,000 per kg. Meanwhile, gold futures for June 2026 delivery rose by ₹2,429 or 1.7% to settle at ₹1,52,182 per 10 grams. Both gold and silver prices closed higher in the previous session as well. Gold and silver prices are likely to continue to fluctuate this week. Fluctuations in the Dollar Index and Crude Oil prices, as well as the wait for the US Non-Farm Payroll data, which could determine the direction of the market, are considered to be the main reasons behind this volatility.

According to a report in ‘The Economic Times’, gold is likely to find support in the $4,535–$4,500 band in the international market, while it may face resistance at the $4,622–$4,681 levels. For silver, the $72.00–$70.00 level is considered support, while the $75.50–$77.40 level is seen as a barrier. On the MCX, gold is likely to find support at ₹1,49,100–₹1,48,400 and resistance at ₹1,50,500–₹1,51,800.

What did the experts advise?

Meanwhile, in case of silver, support levels are between ₹2,41,400 to ₹2,38,800, while resistance is between ₹2,48,000 to ₹2,51,500. Until the peace deal between the US and Iran is finalised, experts have advised that profit booking should continue at every rise in gold and silver prices. Unless there is a sustained and long-term decline in crude oil prices, the prospect of a large and sustained rally in gold prices is unlikely; As a result, any rise in prices is more likely to be short-lived.

Safe-haven assets like gold remain under pressure

The US, UK, the European Central Bank (ECB) and the Bank of Japan (BoJ) have all signaled that interest rates could remain at high levels for a long time or even rise further. As a result, there is a growing perception in the market that this cycle of high interest rates will continue; As a result, safe-haven assets like gold will remain under pressure.

The geopolitical situation also remains uncertain. On one side, former US President Donald Trump is reviewing possible military action; On the other hand, Iran has sent a revised peace proposal through Pakistan. While this has certainly brought some hope of de-escalation, the situation remains unclear and uncertainty remains.

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