Gold, silver rates today: After regaining strength the day before on renewed buying interest, geopolitical tensions in the Middle East, and the potential impact of US tariffs on global trade, gold and silver rates today saw a marginal downturn.
Spot gold rate today fell nearly 0.48% to $5,201 per ounce. Meanwhile, spot silver prices slid around 2% to $89.5 per ounce during Asian trading hours on Thursday.
What’s driving gold and silver prices?
The US imposed sanctions on more than 30 entities linked to Iranian oil and weapons trade, intensifying pressure on Iran ahead of a fresh round of nuclear talks set to take place later on Thursday in Geneva.
The upcoming negotiations over Tehran’s nuclear programme come amid a continued US military buildup in the region, with President Donald Trump warning of “serious consequences” if Iran does not agree to a deal.
Separately, the Trump administration moved forward with efforts to safeguard the president’s tariff agenda, adding to tensions with global trading partners. US Trade Representative Jamieson Greer said Trump would sign a directive to raise the global tariff rate to 15% “where appropriate.”
Meanwhile, the US dollar index slipped below 97.8, surrendering some of the previous session’s gains and making commodities priced in the greenback more appealing to overseas buyers.
Gold and silver prices outlook
According to Ross Maxwell, Global Strategy Operations Lead, VT Markets, the dip in Gold this week reflects the market trying to balance macro headwinds and safe-haven demand.
“A stronger USD and near-term profit taking can cap short-term upside. However, structural drivers remain supportive. If US yields stabilise rather than surge, gold can regain momentum and comfortably regain above $5,200 again, particularly if there are any other events that create risk-off sentiment. The most recent dip looks more like consolidation than a trend reversal,” Maxwell said.
Meanwhile, on the technical outlook of gold prices, Ponmudi R, CEO of Enrich Money, said that the broader uptrend remains intact, with the current sideways phase reflecting a healthy pause following earlier volatility and profit booking. Prices continue to hold above key moving averages and are gradually edging higher, indicating strengthening momentum.
“COMEX Gold is trading in the $5,100–$5,300 zone after consolidating in recent sessions. Strong buying interest remains visible in the $4,850–$5,000 support band. A sustained breakout above $5,500–$5,600 could pave the way toward fresh record highs,” Ponmudi said.
On the silver prices outlook, Ponmudi added that the broader bullish structure remains intact on higher timeframes. Prices have reclaimed major moving averages, signalling a shift from correction toward potential renewed strength.
“ COMEX Silver is trading near $85–$90 after correcting from record highs above $121. Strong buying interest is evident in the $70–$75 support zone. A sustained recovery above $92–$96 could reignite momentum toward $100–$105 and potentially retest previous highs. The medium- to long-term outlook remains constructive, supported by industrial demand and structural supply constraints despite near-term volatility,”
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.
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