Gold, silver rates today: Safe-haven bullions gold and silver rates today witnessed a rebound on Tuesday, March 10, after the US dollar weakened following remarks by Donald Trump suggesting that the war with Iran could be nearing its end.
Spot gold rate today was up 1% to $5,145 per ounce, while spot silver prices surged 4% to $87.9 per ounce, during the Asian trading hours on Monday.
What’s driving gold and silver prices today?
Both metals retreated after US President Donald Trump was quoted as saying by CBS News that he believed the conflict was “very complete, pretty much.”
Meanwhile, the US Dollar Index strengthened, rising to 99.42, as tensions with Iran showed little sign of easing and energy prices continued to climb, making dollar-denominated commodities more expensive for investors holding other currencies.
Metal prices have come under pressure since tensions escalated in the Middle East, as soaring energy prices have heightened concerns about rising inflation.
Concerns over supply disruptions have kept crude oil prices elevated, with Brent crude oil futures touching $120 per barrel for the first time since June 2022. Prices, however, later eased after the Financial Times reported that some members of the Group of Seven were considering releasing strategic oil reserves to help ease pressure on the market.
According to a Bloomberg report, investors increasingly expect that the Federal Reserve and other central banks may keep interest rates higher for longer or potentially raise them further, which tends to weigh on non-yielding precious metals. At the same time, the safe-haven asset has also served as a source of liquidity for investors amid a deepening sell-off in global equity markets.
What should investors do?
Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation, believes that both gold and silver remain in a structurally strong uptrend, supported by geopolitical uncertainty, elevated global debt, and expectations of accommodative monetary policy.
“ With tensions in the Middle East intensifying and energy prices rising, safe-haven demand for gold continues to build. As long as gold sustains above the $5,200 zone, the momentum favours a move toward $5,450–5,600 in the near term. Dips are likely to attract strategic buying rather than aggressive selling,” Kothari said.
He further noted that silver is benefiting from both monetary and industrial tailwinds. A persistent multi-year supply deficit, strong demand from solar, EVs, and AI infrastructure, and renewed investment flows are tightening the market.
“Once Silver sustains above $90, it will be the path toward $100–105 levels. Its higher beta nature suggests it could outperform gold in this phase of the rally.
While short-term volatility will remain high due to geopolitical headlines and US economic data, the broader bias for both metals stays constructive, with corrections likely to be shallow and temporary,” added Kothari.
Meanwhile, Ponmudi R, CEO of Enrich Money, said on the COMEX gold prices outlook that the yellow metal is trading in the $5,100 zone after surging to previous all-time highs, following which the metal entered a corrective phase. The broader bullish framework remains intact, supported by sustained momentum and strong breakout continuation through previous consolidation zones.
“Prices continue to hold firmly above key moving averages and the resistance zone of the prior all-time high, gradually edging higher and signalling strengthening momentum. As long as gold holds above the $5,000 support band, the bullish trend remains dominant, while a sustained breakout above $5,400–$5,600 could open the path toward fresh record highs,” Ponmudi said.
On the COMEX silver prices outlook, he added that the white metal is trading near $82.90 after a strong recovery from recent lows. The broader bullish structure remains intact on higher timeframes, with prices reclaiming major moving averages and signalling a transition from correction toward potential renewed strength.
“A sustained recovery above $90–$95 could reignite momentum toward $100–$110 and potentially retest previous highs. The medium- to long-term outlook remains constructive amid favourable global cues from geopolitical developments and continued safe-haven demand, even with ongoing volatility,” he said.
(With inputs from Bloomberg)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
