Precious metals gain as investors return to buying amid hopes of easing Middle East tensions.
New Delhi, June 22, 2026: Gold and silver prices traded higher in early trade on Monday, supported by fresh buying at lower levels following positive developments in talks between the United States and Iran. However, gains remained limited due to a stronger US dollar and rising bond yields.
On the Multi Commodity Exchange (MCX), gold futures for August delivery rose 0.37% to ₹1,47,747 per 10 grams at around 10:20 AM. Silver futures for July delivery surged 1% to ₹2,35,518 per kilogram.
Optimism Over US-Iran Talks
Market sentiment improved after reports suggested that the first round of discussions between the US and Iran in Switzerland yielded positive outcomes. According to reports, both countries agreed to establish a special “de-confliction cell” aimed at addressing ongoing regional tensions, with further talks scheduled this week.
Analysts believe expectations of reduced geopolitical tensions in West Asia have encouraged investors to return to gold and silver after recent declines, boosting demand for the precious metals.
Strong Dollar Caps Gains
Despite the rally, a stronger US dollar limited the upside. The US Dollar Index rose 0.10% to 100.88, making gold more expensive for overseas buyers.
Meanwhile, the yield on the benchmark 10-year US Treasury bond climbed to 4.49%, reducing the appeal of non-yielding assets such as gold and silver.
Market Outlook
Analysts expect bullion prices to remain sensitive to geopolitical developments, currency movements, and central bank signals. If global sentiment continues to improve and buying momentum remains strong, gold could move toward ₹1.50 lakh per 10 grams, while silver may test ₹2.41 lakh per kilogram in the near term.
