Gold and silver prices moved modestly higher on Friday as traders evaluated reports of a potential ceasefire arrangement between the United States and Iran, while also tracking the outlook for US inflation and future interest rate decisions by the Federal Reserve. Gold had slipped to its lowest level in two months on Thursday before recovering and ending the session in positive territory following reports that the US and Iran were moving closer to extending their ceasefire. Where are gold and silver prices headed in the coming month? Will they continue to see limited upside with volatility, led by geopolitical news? Track TOI’s live coverage and gold and silver prices to know what analysts are saying.
Live Rates
- Gold Rate 22K: ₹14,305 per gram
- Silver Rate: ₹2,750 per 10 grams
- Platinum Rate: ₹58,950 per 10 grams
Gold Rate Today: US Dollar Weakens
The US dollar continued to lose ground against major global currencies on Friday and was headed for a weekly decline after reports suggested that Washington and Tehran had reached an understanding to prolong the Middle East ceasefire and ease restrictions on maritime traffic through the Strait of Hormuz. Gold prices posted modest gains on Friday as investors evaluated developments surrounding the proposed US-Iran ceasefire while also keeping a close watch on inflation risks and the outlook for US interest rates.
Silver Rate Today: Silver Climbs
Among other precious metals, spot silver climbed 0.7% to $76.17 per ounce. Platinum added 0.2% to $1,926.18 per ounce, while palladium rose 0.9% to $1,380.94 per ounce.
Gold Rate Today: Inflation Data in Focus
Alberto Musalem, President of the Federal Reserve Bank of St. Louis, said policymakers may have to consider raising rates if inflation fails to resume a downward trajectory over the next six months. Meanwhile, John Williams, President of the Federal Reserve Bank of New York, said current monetary policy remains appropriately positioned given the economic outlook. He added that inflation is likely to stay elevated in the near term before easing later in the year.
Gold Rate Today: US-Iran Deal a Major Factor
According to Reuters sources, Washington and Tehran reached an understanding on Thursday to prolong the ceasefire and ease restrictions on shipping through the Strait of Hormuz. However, US President Donald Trump has yet to formally approve the arrangement, while Iranian state media indicated that the agreement has not been finalized.
Gold Rate Today: Spot Gold Up
Spot gold gained 0.4% to $4,512.79 per ounce as of 0113 GMT. The precious metal was marginally higher for the week, up around 0.1%. US gold futures advanced 0.2% to $4,543.10.
Closing Bullion Rates on Thursday
- 1 Gram Gold 22 Kt: ₹14,734
- 1 Gram Gold 24 Kt: ₹16,074
- Silver Per Kg: ₹2,78,615
Official data showed that China’s net gold imports through Hong Kong surged 81.2% in April compared with the previous month. Inflation concerns remained a key focus for investors. Data showed that US inflation accelerated in April at its fastest pace in three years, largely due to rising energy costs linked to the Iran conflict. The figures reinforced expectations among economists that the Federal Reserve could keep interest rates unchanged for an extended period. Gold prices have been range-bound for some weeks, seeing modest rise as inflation fears and lasting US-Iran conflict play on the minds of investors. The stance of the US Federal Reserve to control inflation has also added uncertainty in the minds of the investors.
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