Gold, silver rise on MCX as US-Iran talks fuel safe-haven demand
Synopsis
Gold is holding above $4,500 on COMEX while MCX prices tick higher — but the metal is still nearly 15 per cent below its conflict highs. The US-Iran ceasefire talks are the swing factor: a deal could ease the safe-haven bid, while a breakdown could push prices sharply higher. The Strait of Hormuz remains the market's live wire.
Key Takeaways
MCX Gold was trading at ₹1,57,780 on 27 May , up ₹164 or 0.10 per cent from its previous close.
MCX Silver rose to ₹2,72,379 , up ₹1,751 or 0.65 per cent , with an intraday high of ₹2,72,628 .
COMEX Gold held above $4,500 at $4,508.20 ; COMEX Silver stood at $77.09 .
Gains were driven by safe-haven demand amid US-Iran ceasefire negotiations and Strait of Hormuz uncertainty.
Gold remains nearly 15 per cent below conflict highs as inflation fears keep central bank tightening expectations elevated.
Gold and silver prices edged higher on the Multi Commodity Exchange (MCX) on Wednesday, 27 May, as investors sought safe-haven assets amid persistent geopolitical uncertainty and cautious optimism over possible progress in US-Iran peace negotiations. Both metals opened firmer and held gains through the morning session.
MCX Gold Performance
MCX Gold futures (June 5) were trading 0.10 per cent or ₹164 higher at ₹1,57,780 as of around 10:35 am IST. The yellow metal touched an intraday high of ₹1,57,898, up ₹282 or 0.17 per cent, against a previous close of ₹1,57,616. The intraday low was recorded at ₹1,57,454.
On the technical front, analysts said MCX Gold was trading with a cautious-to-mildly positive bias above the ₹1,58,000 level. Immediate resistance was seen in the ₹1,59,000–₹1,59,500 range, while support was placed near ₹1,57,500.
MCX Silver Performance
MCX Silver futures (July 3) outpaced gold, gaining 0.73 per cent or ₹2,000 to hit an intraday high of ₹2,72,628. At last count, the white metal was trading at ₹2,72,379, up ₹1,751 or 0.65 per cent, against a previous close of ₹2,70,628. The intraday low of ₹2,71,350 was still higher by ₹722 from the prior close.
Analysts noted that MCX Silver continued to hold above the ₹2,71,000 mark amid volatile trade. Resistance was placed in the ₹2,74,000–₹2,75,000 zone, while support was seen between ₹2,70,000 and ₹2,68,000.
Global Cues: COMEX and the US-Iran Factor
In international markets, COMEX Gold was trading at $4,508.20, up 0.13 per cent, while COMEX Silver stood at $77.09, higher by 0.63 per cent. Commodity market analysts said gold stabilised above the $4,500-per-ounce mark after facing pressure earlier in the week.
The key geopolitical driver was the ongoing US-Iran dialogue. US President Donald Trump said discussions to extend the ceasefire and reopen the Strait of Hormuz were continuing, while US Secretary of State Marco Rubio cautioned that a final agreement could still take 'several days,' according to analysts tracking the developments.
Why Prices Remain Below Conflict Highs
Despite the safe-haven bid, analysts pointed out that gold prices remained nearly 15 per cent below their conflict highs. Energy-driven inflation concerns have strengthened expectations of prolonged tighter monetary policy by major central banks, capping the upside for precious metals. This comes amid a broader pattern of gold oscillating between geopolitical risk premiums and macro headwinds — a tension that has defined the metal's trajectory through much of 2025.
Safe-haven demand and further geopolitical developments, particularly around the US-Iran talks, are expected to remain the primary price drivers for precious metals in the near term.
Point of View
500 looks resilient until you notice it is still 15 per cent off its conflict highs — a gap that reflects the market's ambivalence about whether the US-Iran talks will hold. The Strait of Hormuz is the real variable: any disruption there feeds energy inflation, which in turn keeps central banks hawkish, which is structurally negative for gold. The metal is caught between two opposing forces, and Wednesday's marginal gains are less a rally than a holding pattern. Silver's outperformance, meanwhile, reflects industrial demand optimism layered on top of the safe-haven bid — a more complex signal that analysts should not read as simple risk-off.
NationPress
29 Jul 2026
Frequently Asked Questions
What are MCX gold and silver prices today on 27 May?
MCX Gold was trading at ₹1,57,780 on 27 May, up 0.10 per cent, while MCX Silver stood at ₹2,72,379, up 0.65 per cent. Both metals opened firmer and held gains through the morning session.
Why are gold and silver prices rising today?
Prices are rising primarily due to safe-haven demand driven by geopolitical uncertainty around US-Iran peace negotiations and the status of the Strait of Hormuz. Cautious optimism over a possible ceasefire extension has kept investors positioned in precious metals.
What is the current COMEX gold price?
COMEX Gold was trading at $4,508.20, up 0.13 per cent, on Wednesday. The metal has stabilised above the key $4,500-per-ounce level after facing selling pressure earlier in the week.
Why is gold still below its conflict highs despite geopolitical tensions?
According to analysts, gold remains nearly 15 per cent below its conflict highs because energy-driven inflation concerns have reinforced expectations of prolonged monetary tightening by major central banks, which limits the metal's upside even as safe-haven demand persists.
What are the key technical levels for MCX gold and silver?
For MCX Gold, immediate resistance is in the ₹1,59,000–₹1,59,500 range with support near ₹1,57,500. For MCX Silver, resistance is at ₹2,74,000–₹2,75,000 and support lies between ₹2,70,000 and ₹2,68,000, according to commodity market analysts.
