Gold, silver rates today: Gold and silver prices saw up to 1% rise on Tuesday, April 14, after a two-day slide, led by growing optimism that a negotiated resolution to the US-Iran war could ease inflation concerns.
COMEX gold rate today was up 0.65%, trading near $4,800 per ounce, recovering most of the 0.6% decline seen over the prior two sessions. Meanwhile, the COMEX silver rate today surged nearly 1% to $76.49 per ounce during the Asian trading hours on Tuesday.
What’s driving gold and silver prices today?
Despite the US initiating a naval blockade of the Strait of Hormuz, President Donald Trump said Iranian officials had reached out to his administration expressing a willingness “to work a deal.”
Meanwhile, Iranian President Masoud Pezeshkian was quoted as saying by Bloomberg that Tehran remains open to continuing peace negotiations within the bounds of international law.
Oil prices slipped to below $100 per barrel, while equities advanced on Monday and the dollar index eased by 0.2%, lending support to gold, which is priced in the US currency. The decline in energy prices helped ease some inflationary pressures that have weighed on bullion since the conflict began over six weeks ago. This has prompted traders to anticipate that central banks may keep interest rates elevated for longer, or even raise them further — a negative factor for non-yielding assets like gold, according to Bloomberg.
However, fears of additional energy supply disruptions and broader economic strain persist, particularly as the US blockade of Hormuz intensifies pressure on Iran.
According to a Bloomberg report, the US Navy is moving to restrict vessels from accessing Iranian ports and coastal routes through the crucial waterway. With tensions remaining elevated, US money markets continue to assign less than a 20% probability that the Federal Reserve will cut interest rates by December.
Although bullion has seen a modest rebound in recent weeks, it remains down about 10% since the war began in late February.
Gold and silver prices outlook
According to Renisha Chainani, Head – Research at Augmont, both precious metals continue to remain volatile as the ceasefire is fragile, inflation is rising, and ETF flows are mixed.
On the gold prices outlook, Chainani said that Gold has resistance zone around $4800-4850 (~ ₹154,000 – 155,000), if prices sustain above this level, it can tend higher towards $5000 (~ ₹160,000), while $4600 (~ ₹148500) is the strong support.
Meanwhile, on the silver prices outlook, she added that Silver has resistance around $77 (~ ₹246,000), if prices sustain above this level, it can touch levels of $82 (~ ₹255,000) and $87 (~ ₹265,000).
On the other hand, Ponmudi R, CEO of Enrich Money, believes that COMEX Gold is trading within the $4,700–$4,750 range, holding above key moving averages but with limited upside momentum and a cautious undertone.
“A break below $4,650 could accelerate selling toward $4,600–$4,570 and further to $4,530–$4,500. On the upside, a move above $4,750–$4,770 may push prices toward $4,800–$4,830, with potential extension to $4,900. Overall, the structure remains weak, with downside risks prevailing, while any recovery is likely to face resistance at higher levels,” Ponmudi said.
On the technical outlook for the silver prices, he added that COMEX silver is trading below the $75 level, reflecting a weak undertone with price action lacking conviction despite limited support from industrial demand.
“Failure to reclaim $75 may keep selling pressure intact, while a decisive break below $72 could accelerate the decline toward $70–$68. On the upside, a sustained move above $76 may help revive momentum and extend prices toward the $78–$80 range,” he said.
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.
