Gold and silver prices advanced on Wednesday following an extension of the ceasefire between the US and Iran, lifting sentiment in bullion markets.
On the Multi Commodity Exchange (MCX), gold contracts for June 5 reached an intraday peak of Rs 1,53,699 per 10 grams.
The metal gained 1.33 per cent or Rs 2,028. It later traded at Rs 1,53,593, up Rs 1,922 or 1.27 per cent. During the session, gold touched a low of Rs 1,53,052.
Silver contracts for May 5 rose over 2 per cent, adding nearly Rs 6,000 to Rs 2,50,698 per kg. The metal recorded an intraday low of Rs 2,48,388.
In global trade, bullion remained firm. Gold on COMEX increased 1.13 per cent to $4,773.21 per ounce. Silver climbed 1.97 per cent to $77.99 per ounce.
Analysts noted that both metals continue to trade within a defined range despite recent gains.
Gold held above Rs 1,53,000 with buying support at lower levels. A sustained rise beyond Rs 1,55,000 may drive prices towards Rs 1,57,000-1,58,000.
However, a decline below Rs 1,52,000 could trigger a correction towards Rs 1,50,000-1,48,000.
Silver moved within the Rs 2,48,000-2,50,000 band. Resistance remained at Rs 2,53,000-2,55,000.
A breakout may extend gains to Rs 2,60,000-2,62,000, while a fall below Rs 2,45,000 could push prices down to Rs 2,43,000-2,40,000.
Rising global uncertainty supported bullion demand. Donald Trump extended the ceasefire deadline, though details remained unclear.
Shehbaz Sharif and Asim Munir reportedly urged a longer halt to enable peace negotiations.