Gold Prices Post Significant Gains Amid Halt in Iran Strikes, Silver Recovers Slightly

Precious Metals Rebound Sharply on US-Iran Talks

Market Update On Monday, 23 March, precious metals gold and silver experienced a significant rebound in the evening session, driven by renewed safe-haven buying triggered by US President Donald Trump's announcement of productive talks between the US and Iran.

Key Statistics

• May silver futures on COMEX rebounded $9.82 from an intraday low of $61.21 per troy ounce to reach $71.03.
• April gold futures recovered $437 per troy ounce to hit an intraday high of $4,537.
• April gold futures contract on MCX recovered ₹12,705 per 10 grams from the day's low to trade at ₹1,42,300.
• May silver futures contract has also recovered sharply from the day's low, rebounding ₹29,657 per kilogram to ₹2,29,300.

Read also: Gold and Silver Prices Decline Amid Strengthening Dollar and Inflation Concerns

Market Analysis The sharp rebound in precious metals comes after the yellow metal slipped to its lowest level since November 2025, while silver fell to levels not seen since early December. The renewed safe-haven buying is driven by the US administration's efforts to limit the energy price surge that decimated global risk appetite.

Key Developments

• US President Donald Trump announced that the US and Iran have had productive conversations regarding a complete and total resolution of their hostilities in the Middle East.
• The US administration has instructed the Department of War to postpone any and all military strikes against Iranian power plants and energy infrastructure for a five-day period, subject to the success of the ongoing meetings and discussions.
• The pause in strikes on Tehran came after Iran threatened to attack Israel's power plants and those supplying US bases across the Gulf region if the US targets Iran's power network.