Gold, Silver Soar as Mideast Tensions Ease

Gold and silver futures rebounded on Monday, following reduced geopolitical tensions in the Middle East. Gold prices rose over Rs 1,000, while silver climbed more than Rs 2,500 on the MCX. This rally is linked to a decrease in fears regarding regional hostilities, with crude oil prices dropping by over 4%.

The US dollar index fell below 101, making gold and silver more affordable for international buyers. A weaker US currency often drives up global demand for these metals.

Investors are positioning themselves ahead of the US Federal Reserve's policy meeting later this week. While interest rates are expected to remain steady, market commentary will be closely watched for any changes in tone.