Gold, Silver Rate Today Highlights: MCX Gold, MCX Silver prices drop as oil surges on continued Strait of Hormuz blockade

Gold, Silver Rate Today Highlights: Gold and silver prices may continue to see enhanced volatility, swinging either way as global uncertainty continues to remain high, and developments on the US-Iran war shape the outlook. US President Donald Trump has for now extended the ceasefire but the blockade of the Strait of Hormuz still remains in effect. Additionally, sentiment on gold and silver prices may be influenced by the rate cut moves by the US Federal Reserve where the possible appointment of Kevin Warsh as the new Fed chair will decide the course. Track TOI’s live updates on the precious metals to know the immediate and the long-term outlook: