Gold & Silver Prices Climb 6% Amid Trump Ceasefire Announcement
Synopsis
On April 8, gold and silver prices soared significantly due to safe-haven demand, despite President Trump's announcement of a ceasefire plan with Iran. This rise indicates a strong market response to geopolitical tensions and economic conditions.
Key Takeaways
Gold prices increased by 2.45% on April 8.
Silver prices surged nearly 6% during the same period.
Safe-haven demand is driving the rise in precious metals.
The Indian rupee appreciated against the dollar.
The RBI maintained the repo rate at 5.25%.
Mumbai, April 8 (NationPress) The prices of gold and silver experienced a significant rise on Wednesday, driven by a surge in safe-haven demand, even in light of a two-week ceasefire plan announced by US President Donald Trump.
On the Multi Commodity Exchange (MCX), gold futures (June 5) soared by as much as Rs 3,688 or 2.45%, reaching an intraday peak of Rs 1,53,977 by 10:52 AM.
The yellow metal was recorded at Rs 1,53,920, marking an increase of Rs 3,631 or 2.42%. It hit an intraday low of Rs 1,53,301, reflecting a 2% gain from the previous closing price.
Meanwhile, silver futures (May 5) surged nearly 6% or Rs 13,422, reaching an intraday high of Rs 2,44,770.
Currently, the white metal is trading at Rs 2,44,297, up Rs 12,949 or 5.6%. It recorded a low of Rs 2,40,601, up 4% from the last close.
Experts indicated that the surge in these precious metals is attributed to increasing safe-haven demand, with buying interest at lower levels suggesting a strengthening momentum.
In the currency landscape, the Indian rupee appreciated by 40 paise to 92.61 against the dollar, compared to its previous close of 93.
Additionally, the Reserve Bank of India maintained the repo rate at 5.25%.
Oil prices witnessed a sharp decline, dropping up to 20%. Brent crude futures fell nearly 16% or $17.39 to an intraday low of $91.88, while US WTI crude plummeted nearly 20% or $21.90 to $91.05.
Equity benchmarks Sensex and Nifty also surged, gaining nearly 4% following the RBI's decision to keep the repo rate steady and the announcement of the ceasefire.
This upbeat sentiment among traders and investors is largely a response to President Trump's declaration of a temporary ceasefire with Iran, which is seen as a step to ease geopolitical tensions.
Trump made this announcement via a post on his social media platform, Truth Social, where he stated that he had directed US forces to stand down, shortly after issuing stern warnings regarding the potential “death of a civilization.”
Point of View
It is essential to recognize the interplay between geopolitical events and financial markets. The recent surge in gold and silver prices highlights the ongoing safe-haven demand amid uncertain conditions, reflecting investors' strategies in response to President Trump's ceasefire plan with Iran.
NationPress
13 Jul 2026
Frequently Asked Questions
What caused the recent surge in gold and silver prices?
The surge in gold and silver prices is primarily due to increased safe-haven demand, motivated by geopolitical tensions and the recent announcement of a ceasefire plan by US President Donald Trump.
How much did gold prices increase on April 8?
On April 8, gold futures rose as much as Rs 3,688 or 2.45%, reaching an intraday high of Rs 1,53,977.
What was the performance of silver prices on the same day?
Silver futures climbed nearly 6%, or Rs 13,422, hitting an intraday high of Rs 2,44,770 on April 8.
What impact did the RBI's repo rate decision have on the markets?
The Reserve Bank of India's decision to keep the repo rate unchanged at 5.25% contributed to positive sentiments in the equity markets, with Sensex and Nifty gaining nearly 4%.
What is the significance of safe-haven demand in the market?
Safe-haven demand refers to the tendency of investors to seek refuge in assets like gold and silver during times of geopolitical uncertainty or economic instability, driving up their prices.
