MUMBAI — Gold and silver prices edged lower Tuesday, pressured by ongoing global uncertainty and cautious investor sentiment tied to geopolitical developments and economic signals.
On the Multi Commodity Exchange, gold futures for June 5 were trading at Rs 1,53,415, down 0.34 percent, or Rs 528. The metal also traded at Rs 1,53,585 per 10 grams earlier in the session, reflecting a decline of Rs 358, or 0.23 percent, after touching an intraday high of Rs 1,53,992.
Silver prices also weakened, with May futures falling about 0.92 percent, or Rs 2,335, to Rs 2,50,210. The metal hit an intraday high of Rs 2,51,743 before easing to Rs 2,50,903 per kilogram, down Rs 1,642, or 0.65 percent.
The downward trend extended to international markets, where COMEX gold slipped 0.43 percent to $4,807 per ounce, while silver dropped 1.44 percent to $78.885 per ounce.
Analysts attributed the decline to lingering uncertainty surrounding a potential extension of the U.S.-Iran ceasefire, along with broader macroeconomic concerns that have kept investors on edge.
Market participants are closely watching whether new peace talks will materialize before the ceasefire deadline, with mixed signals from both sides contributing to volatility.
U.S. President Donald Trump has said a delegation led by Vice President JD Vance would travel to Pakistan for negotiations, while Iranian officials have indicated talks are unlikely as long as a U.S. naval blockade remains in place. Reports, however, suggest Tehran may still engage through regional intermediaries.
Geopolitical tensions have also been heightened by recent developments, including the U.S. capture of an Iran-flagged vessel.
At the same time, investor focus has shifted to domestic U.S. factors, particularly the Senate confirmation hearing of Federal Reserve Chair nominee Kevin Warsh. His relatively hawkish stance on monetary policy and preference for a leaner balance sheet have previously weighed on bullion prices.
With uncertainty persisting on both geopolitical and policy fronts, analysts said gold is likely to remain under pressure in the near term.
Oil prices also declined, adding to the cautious market mood. Brent crude futures fell 1.71 percent to $93.84 per barrel, while U.S. West Texas Intermediate dropped 2 percent to $85.50. (Source: IANS)
