Gold, Silver Rate Today Live Updates: MCX Gold, MCX Silver prices rise as oil drops, Trump extends US-Iran ceasefire

Gold Cost Outlook: Both gold and silver are likely to remain volatile in the near term, according to Vedika Narvekar, Research Analyst for Commodities and Currencies at Anand Rathi Shares and Stock Brokers.Last week, the two precious metals experienced pronounced swings driven largely by incoming data and fast-changing developments in the Middle East. Gold climbed as much as 2.1%, reaching a one-month peak of around $4,838 per ounce after Iran indicated that the Strait of Hormuz was fully open. This led to a softer US dollar and easing bond yields, both of which supported bullion prices. Market positioning also improved, with money managers increasing their net long positions in gold to a four-week high and in silver to a twelve-week high as of April 14.The analyst shares her outlook for gold and silver. Take a look:

Gold Cost Outlook: Both gold and silver are likely to remain volatile in the near term, according to Vedika Narvekar, Research Analyst for Commodities and Currencies at Anand Rathi Shares and Stock Brokers.

Last week, the two precious metals experienced pronounced swings driven largely by incoming data and fast-changing developments in the Middle East. Gold climbed as much as 2.1%, reaching a one-month peak of around $4,838 per ounce after Iran indicated that the Strait of Hormuz was fully open. This led to a softer US dollar and easing bond yields, both of which supported bullion prices. Bazaar positioning also improved, with money managers increasing their net long positions in gold to a four-week high and in silver to a twelve-week high as of April 14.

The analyst shares her outlook for gold and silver.