Silver rate today: Silver prices remain muted as markets assess US-Iran news and Fed outlook - Key levels to watch

Silver rate today: Silver prices in India were largely unchanged on Tuesday as investors balanced easing geopolitical tensions in the Middle East against lingering concerns over inflation and interest rates ahead of key economic data and commentary from U.S. Federal Reserve officials.

MCX silver price was muted, down 0.17% at ₹2,65,685 per kg, while MCX gold price was also flat.

Spot silver edged up 0.2% to $74.92 per ounce, while spot gold remained flat at $4,484.49 per ounce as of 0048 GMT. U.S. gold futures also gained 0.2% to $4,514.30 per ounce.

The muted movement in precious metals suggested that investors were waiting for clearer signals on both geopolitical developments and the future direction of monetary policy.

Ceasefire Developments and U.S. Economic Data in Focus

One of the key factors influencing market sentiment was Lebanon's announcement of a partial ceasefire between Hezbollah and Israel. The move is being viewed as a limited step toward de-escalation in a conflict that has claimed thousands of lives and heightened tensions across the broader region.

However, Iranian state media reported earlier that Tehran was suspending indirect negotiations with Washington and could potentially end a ceasefire that has largely remained in place since early April. The report raised concerns that regional tensions could flare up once again.

However, U.S. President Donald Trump offered a contrasting view, stating that discussions with Iran were continuing "at a rapid pace." The mixed messages from both sides have left investors waiting for more concrete developments before making significant market moves.

Beyond geopolitics, attention is increasingly shifting toward upcoming U.S. economic indicators. Investors are closely watching the U.S. non-farm payrolls report and broader employment data scheduled for release later this week. These reports are expected to provide valuable insights into the strength of the labour market and the broader health of the U.S. economy.

Market participants are also awaiting remarks from Federal Reserve policymakers. Their comments could offer fresh clues regarding the central bank's assessment of inflation risks and the likely path of future interest rates.

Key levels to watch

Renisha Chainani, Head - Research at Augmont said, “For silver, a structural supply deficit alongside green-energy demand from solar and electric vehicles remains intact, providing durable medium-term support beneath the metal even as near-term volatility persists.”

Chainani is cautiously bullish on the precious metals. Ceasefire progress, a weaker DXY, and sub-target monthly PCE are constructive, but persistent above-target annual inflation and a Fed firmly on hold cap near-term upside. The next major catalysts to watch are Trump's approval of the Iran deal terms and the US jobs report on June 6, she added.

Technical Levels

• COMEX Gold: Support $4,400–4,440; Resistance $4,620–4,650

• MCX Gold: Support ₹1,53,000–1,54,000; Resistance ₹1,60,000

• COMEX Silver: Support $71–72; Resistance $78–79

• MCX Silver: Support ₹2,62,000–2,63,000; Resistance ₹2,83,000

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.