Safe Heaven Dynamics – Silver rebounded to around $90 after briefly slipping below $80 in the previous session, supported by a pullback in the US dollar. As expectations grew that the Iran conflict could end sooner than initially feared, safe-haven demand for the dollar eased, allowing precious metals to recover. While geopolitical tensions typically support bullion, the rapid shifts in risk sentiment have led to short-term volatility rather than a sustained safe-haven rally.

Geopolitical Developments – US President Donald Trump indicated that the US military operation in Iran is nearing completion and progressing faster than the initial four-to-five-week timeline. He also signaled potential waivers on oil-related sanctions and plans for the US Navy to escort tankers through the Strait of Hormuz, aiming to stabilize oil flows and prevent a sharp spike in energy prices.

Dollar Outlook –. The U.S. Dollar Index had earlier strengthened due to safe-haven demand as the Middle East conflict and rising oil prices heightened concerns about economic disruption and inflation. Market participants are now focused on upcoming US inflation indicators, including the Consumer Price Index and the Personal Consumption Expenditures Price Index, which will provide further signals on inflation trends and potential monetary policy direction.

Technical Triggers   

Gold continues to maintain a bullish bias, with prices expected to move towards $5250 (~ ₹165,000) and $5300 (~ ₹167,000) in the near term. Strong support is seen around the $5000 (~ ₹158,500) level, which is likely to act as a key buying zone on any corrective dips.

After achieving the target of $90, Silver also remains firmly supported and is continuing its upward momentum, with the next upside target seen around $95 (~ ₹285,000). On the downside, strong support is placed near $80 (~ ₹260,000), suggesting that any short-term corrections could attract fresh buying interest.

Dr.Renisha Chainani, Head- Research, Augmont