Gold, silver rates today: Comex gold jumps $64/oz; silver rises $3.4/oz on hopes of fresh US-Iran peace talks

Precious metals saw renewed buying on Tuesday, April 14, amid optimism that the US and Iran are considering another round of peace talks, boosting the appeal of safe-haven assets. The optimism also led to a drop in crude oil prices, while the dollar lost some of its safe-haven appeal.

Comex gold futures surged by $64 per troy ounce to an intraday high of $4,831, while silver futures gained $3.45 to the day’s high of $79.11. Both metals had sharply recovered from their intraday lows in the previous session and ended with modest losses.

The US dollar drifted lower, falling to 98 against a basket of currencies, making greenback-priced bullion more affordable for holders of other currencies.

Negotiating teams from the US and Iran could return to Islamabad this week to resume talks to end the war, sources told Reuters, after the collapse of weekend negotiations prompted Washington to impose a blockade on Iranian ports.

Hopes of fresh talks ahead of the expiry of the two-week ceasefire come even as US President Donald Trump said on Monday that the US military has begun a blockade of all Iranian ports and coastal areas.

Over the weekend, Trump said direct talks with Iran in Pakistan failed because Iran was “unwilling to give up its nuclear ambitions,” while an Iranian foreign ministry spokesperson reportedly blamed the US for excessive demands and unlawful requests.

On the economic front, US wholesale prices rose less than expected in March, despite a surge in energy costs tied to the Iran war, data from the Bureau of Labor Statistics showed on Tuesday. The data follows last week’s figures, showing that US consumer prices surged in March due to skyrocketing gasoline prices, even as underlying inflation came in below estimates.

Despite its role as an inflation hedge, gold becomes less attractive in a higher interest rate environment because it offers no yield. Traders are now pricing in a 25% probability of a US rate cut this year, compared with expectations for two cuts before the war.

MCX holds gains above ₹2,000; silver reclaims ₹2.5 lakh

In the domestic commodity market, trading resumed in the evening session after remaining closed in the first half due to Dr Baba Saheb Ambedkar Jayanti.

Tracking international prices, the near-month gold futures contract on MCX gained ₹2,066 to hit ₹1,54,138 per 10 grams.

Silver futures saw sharper gains, rising by ₹11,477 per kilogram to cross ₹2.52 lakh, reaching ₹252,358—marking the highest level since 18 March.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.