In domestic trading, MCX silver futures for July 2026 delivery climbed Rs 7,200, or 2%, to Rs 2,53,345 per kg. Gold futures for August 2026 delivery also posted strong gains, rising Rs 3,301, or 2%, to Rs 1,53,829 per 10 grams.
The latest rally has substantially boosted returns over the past three sessions. Silver has advanced by more than Rs 18,000 during this period, while gold has added close to Rs 6,000. Both precious metals had ended the previous session in positive territory, though with relatively modest gains.
Market sentiment received support from the proposed agreement between Washington and Tehran, which reportedly includes lifting the US blockade on Iran and restoring shipping through the Strait of Hormuz. Pakistani Prime Minister Shehbaz Sharif said the agreement is expected to be formally signed in Switzerland on Friday.