Gold prices moved higher in early trade on Friday as global market sentiment improved following remarks by US President Donald Trump suggesting progress toward a potential agreement involving Iran. The movement in bullion prices reflected renewed investor interest in safe-haven assets amid ongoing geopolitical uncertainty.

On the Multi Commodity Exchange (MCX), gold futures for August delivery were trading significantly higher in early sessions. At around 9:32 am, MCX gold was up by nearly ₹800, reaching approximately ₹1,50,320 per 10 grams. Silver also saw strong gains during the session, with MCX silver futures rising by about ₹2,291 to trade near ₹2,43,720 per kilogram.

The upward movement in precious metals comes after several weeks of volatility driven by tensions involving the United States, Israel, and Iran. Market participants have been closely tracking developments in the region, as geopolitical instability typically increases demand for safe-haven assets such as gold and silver.

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Sentiment was further influenced by Trump’s comments indicating optimism over a possible diplomatic breakthrough. He stated that the conflict was “settled, subject to finalisation,” and suggested that a formal agreement could be signed within the next few days. These remarks contributed to expectations of easing tensions in the Middle East.

Investors are also watching the potential implications for global trade routes, particularly the Strait of Hormuz, a critical maritime passage for global oil shipments. Any improvement in regional stability could ease concerns over supply disruptions and influence commodity pricing across energy and precious metals markets.

However, market analysts caution that uncertainty remains, as no official confirmation of an agreement has been issued. Until clearer diplomatic outcomes emerge, gold prices are expected to remain sensitive to geopolitical developments and shifts in investor sentiment, with continued volatility likely in the near term.

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