Silver rate today rose on Wednesday, February 25 as investors turned to the safe-haven metal during Asian trading amid lingering uncertainty over U.S. tariff policies. Reduced expectations of a near-term interest rate cut also supported sentiment, while gold prices advanced in early deals.
Gains in recent sessions were further underpinned by escalating geopolitical tensions in the Middle East, where the United States has reportedly built up its largest military deployment since 2003. Talks between the U.S. and Iran are scheduled to resume later this week.
On MCX, silver prices rose 2.7% to ₹2,67,990 per kg and MCX gold rate advanced 0.7% to ₹1,61,072 per 10 grams.
In international markets, Spot silver climbed 1% to $88.23 per ounce, after touching a more than two-week high on Monday. Meanwhile, Spot gold gained 0.5% to $5,174.76 per ounce as of 0159 GMT. Bullion had ended the previous session down over 1% as investors booked profits after prices hit a three-week high earlier in the day. U.S. gold futures for April delivery were up 0.3% at $5,192.20.
Among other precious metals, Spot platinum jumped 2.1% to $2,212.72 per ounce, while palladium advanced 1.4% to $1,793.68.
According to experts, the reopening of Chinese markets, coupled with rising policy uncertainty in the United States, continues to support demand for gold and silver. On the geopolitical front, Iran and the U.S. are set to hold a third round of nuclear talks on Thursday in Geneva, according to Oman’s Foreign Minister Badr Albusaidi.
Meanwhile, interest rates are likely to remain unchanged “for some time” as recent data points to improvement in the U.S. labour market, Boston Fed President Susan Collins said on Tuesday.
more to come…