Amidst the ongoing tension in the Middle East, the bullion market has once again become bustling. After ups and downs throughout the week, gold and silver suddenly shined on Friday evening. The main reason for this was an important decision of US President Donald Trump, which changed the direction of the market. Investors’ confidence once again returned towards gold and a strong rise in prices was seen.
April gold futures on MCX gained nearly ₹3,500 per 10 grams and the price touched an intraday high of ₹1,45,500. At the same time, the price of silver jumped by more than ₹ 10,000 per kg and again reached the level of ₹ 2.33 lakh. At the same time, in the international market, April gold futures on COMEX jumped by about $ 93 to reach $ 4,601 per troy ounce. This rise came at a time when a big fall of about $ 176 was seen in gold a day earlier. However, if we look at the weekly data, gold is still in a declining trend.
Market mood changed due to Trump’s decision
In fact, Trump has currently postponed a possible attack on Iran’s energy infrastructure and has given time till April 6 to open the Strait of Hormuz. This decision created an atmosphere of some relief at the global level. As soon as tensions showed signs of easing, investors turned to gold again as a safe haven, causing prices to rise.
Why is there still uncertainty?
Although prices have increased, the market is still not completely stable. Tension between America and Iran, uncertainty over the Strait of Hormuz and constantly changing geopolitical circumstances are keeping gold and silver quite volatile.
What is the signal for investors?
Experts believe that at present the trend of rise and fall in both gold and silver may continue. Even small news is affecting the prices, hence investors are being advised to be cautious and take decisions.