Gold Price, Silver Price, Gold News, Comex Gold: Ukraine has agreed to an immediate 30-day ceasefire, brokered by the United States, provided Russia accepts the plan. “Ukraine is ready to start talking and stop shooting,” said US Secretary of State Marco Rubio.

As part of the agreement, the US has lifted its temporary pause on intelligence-sharing with Ukraine and will resume security assistance. Meanwhile, US President Donald Trump and Ukrainian President Volodymyr Zelenskyy have committed to finalizing a comprehensive deal for developing Ukraine’s critical mineral resources, officials confirmed.

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In contrast, Iranian President Masoud Pezeshkian dismissed negotiations with the US under pressure, stating, “Do whatever the hell you want,” according to Iranian state media.

Gold and Silver Prices Surge Amid Market Uncertainty

Gold and silver prices closed higher in international markets on Tuesday, supported by increased safe-haven demand following US tariff hikes on Canada.

Global Market Performance

• Gold April futures settled at 2920.90 dollars per troy ounce, up 0.74 percent
• Silver May futures settled at 33.147 dollars per troy ounce, up 1.89 percent

Domestic Market Performance

• Gold April futures on MCX closed at 86152 rupees per 10 grams, up 0.86 percent
• Silver May futures on MCX settled at 98132 rupees per kilogram, gaining 1.73 percent

Gold prices crossed the 2900 dollars per ounce mark, while silver reclaimed 33 dollars per ounce, as the US equity markets extended their losses. A weaker dollar index, which fell to a five-month low below 104, also provided support to precious metals.

Market Outlook and Key Levels

Manoj Kumar Jain, Director at Prithvi Finmart, stated that if gold sustains above 2932 dollars per troy ounce, it may strengthen further, while silver holding above 33.20 dollars per troy ounce could extend its gains.

Key Support and Resistance Levels

Gold in the Comex market

• Support at 2900 to 2884 dollars per ounce
• Resistance at 2934 to 2955 dollars per ounce

Silver in the Comex market

• Support at 32.84 to 32.55 dollars per ounce
• Resistance at 33.40 to 33.70 dollars per ounce

Gold on MCX

• Support at 85850 to 85500 rupees
• Resistance at 86360 to 86720 rupees

Silver on MCX

• Support at 97400 to 96650 rupees
• Resistance at 99000 to 99800 rupees

Trade Recommendation: Jain suggests buying silver around 97650 rupees with a stop-loss at 96950 rupees and a target of 99200 rupees.

With ongoing volatility in the dollar index, US trade war tensions, and upcoming US inflation data, gold and silver are expected to remain volatile but should hold their key support levels of 2840 dollars for gold and 30.80 dollars for silver per troy ounce on a weekly closing basis.

Big Events of The Week

Wednesday, March 12, 2025
United States:

• 06:00 PM – Core Inflation Rate MoM (February)
• 06:00 PM – Inflation Rate MoM
• 06:00 PM – CPI

Thursday, March 13, 2025
United States:

• 06:00 PM – PPI MoM
• 06:00 PM – Core PPI MoM
• 06:00 PM – Initial Jobless Claims (March)

Friday, March 14, 2025
United States:

• 07:30 PM – Michigan Consumer Sentiment Prel

China:

• Vehicle Sales YoY

Other Major Events

• Tariff Announcements
• Russia-Ukraine Statements
• Trump’s Key Announcements

These key economic and geopolitical events will shape market sentiment, particularly with inflation data, trade policies, and central bank decisions influencing financial markets globally.

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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.