The uncertainty surrounding the possible peace agreement between America and Iran has impacted the market. The market has seen volatility due to events starting with the announcement of the peace agreement, followed by the news of the closure of the Strait of Hormuz and then new hopes for peace. Today there is a boom in the stock market and there has been a rise in the prices of precious metals in the commodity market. Along with the rise in the stock market, the prices of gold and silver have also increased by about ₹ 6,500. Gold prices on MCX have increased by ₹1,350, while silver has become costlier by almost ₹5,000; These trends were seen around 11:30 am on Monday.
Gold and silver prices on MCX?
At 12:30 pm on Monday, August 5, 2026, gold for delivery on MCX was trading at ₹1,48,551, up 0.92% or ₹1,348. At the same time, the price of silver for delivery on July 3 increased by 2.21% or ₹ 5,150. Silver has once again crossed the mark of ₹2.38 lakh; It was trading at ₹2,38,350 at 12:30 pm on Monday.
What is the opinion of experts on gold and silver?
According to a report by news agency IANS, market experts said that gold on MCX opened with a gap-down around ₹1,46,000. However, buying at lower levels led to recovery, taking prices towards the resistance zone of ₹1,48,000–₹1,48,400. If prices sustain above this range, recovery could extend towards ₹1,49,500–₹1,50,000 and then ₹1,51,000. On the downside, the zone of ₹1,46,000–₹1,45,600 acts as an important support level; After going below this the price falls to… 1,45,000.
According to experts, the mood of the market is cautious at present, although after the recent decline, investor confidence has increased. To maintain the uptrend, the price needs to stay above Rs 1,48,000 and retest the psychological level of Rs 1,50,000.
The expert also said that MCX Silver started with a gap-up around Rs 2,37,000, which shows the strength of the market. If the price breaks the resistance zone of Rs 2,37,000-2,38,000, the upside can extend towards Rs 2,40,000-2,42,000. On the contrary, if the price dips below the range of Rs 2,35,000-2,34,000, it may fall towards Rs 2,32,000 and then Rs 2,30,000. Although the market is trying to stabilize now, a strong rally above Rs 2,40,000 is needed; Selling pressure may increase again if the support level is broken.
In the energy sector, international benchmark Brent crude is trading more than 2 per cent lower at around $79 per barrel, while US West Texas Intermediate (WTI) crude is down 3 per cent at around $75 per barrel.