Silver price today rises on MCX after US and Iran agree to a ceasefire(Bloomberg)AI Quick ReadSilver rate today: Silver prices surged on Wednesday, April 8, riding a broad rally in precious metals after the United States and Iran agreed to a two-week ceasefire to push forward negotiations aimed at ending a conflict that had rattled global markets. Meanwhile, the white metal was also reacting to a sharp fall in the U.S. dollar, which made dollar-priced metals more attractive.
Silver rate on MCX jumps 6% or over ₹13,000 to ₹2,44,770 per kg while MCX Gold price adds 2.4% or over ₹3600 to ₹1,53,944 per 10 grams.
Meanwhile, in the international markets, Spot silver rose 4.9% to $76.48 per ounce, making it one of the strongest movers in the metals pack. Gold also moved sharply higher. Spot gold climbed 2.3% to $4,812.49 per ounce by 0215 GMT, after rising more than 3% earlier in the session to hit its highest level since March 19. Meanwhile, U.S. gold futures for June delivery advanced 3.4% to $4,841.60.
Among other metals, Platinum rose 3.2% to $2,020.57 per ounce, while palladium climbed 4.1% to $1,529.35.
The biggest trigger was the sudden geopolitical shift.
Markets had been on edge over the war and the possibility of a deeper disruption in the Middle East. But sentiment improved after U.S. President Donald Trump said Washington had agreed to pause attacks for two weeks, giving diplomacy a chance. Iran, in turn, reportedly sent a 10-point proposal that Trump described as a workable starting point for negotiations.
Another major reason behind the rally was the fall in the U.S. dollar.
The U.S. dollar index slipped to 98.943, its lowest level since March 11, and extended losses for a third straight session. A weaker dollar tends to support precious metals because they become cheaper for buyers holding other currencies. That often boosts demand globally.
This time, the currency move was significant. The euro, yen, Australian dollar and New Zealand dollar all strengthened in Asian trade, adding to pressure on the greenback and helping precious metals move higher.
Moreover, the ceasefire announcement also calmed fears around one of the market’s biggest flashpoints: the Strait of Hormuz, a key global oil shipping route. Trump said the reopening of the strait was one of the key conditions tied to the pause, while Iran signalled that safe passage was possible for the next two weeks.
That development triggered a sharp reversal in oil.
West Texas Intermediate crude tumbled as much as 19%, while broader oil prices dropped below $100 per barrel, as traders began pricing in lower immediate supply risk. Falling oil prices also helped improve the overall market mood while weakening the dollar.
As per the latest media reports, Iran’s Supreme Security Council said negotiations with the United States would begin on April 10 in Islamabad, after the proposal was submitted through Pakistan, which has been helping mediate. At the same time, Tehran reportedly made it clear that talks do not necessarily mean the war is over.
Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience.
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Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism.
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Pranati has built a diverse and credible professional track record across some of India’s most respected news organisations, including MintGenie, CNBC-TV18, Business Standard and EconomicTimes.com. During her stints at these platforms, she produced data-driven market stories, curated and steered live blogs during volatile trading sessions, and conducted interviews with market veterans, fund managers, economists, and industry experts. Her work often combines on-ground reporting with analytical depth, helping readers make sense of daily market fluctuations and longer-term trends.
An alumnus of the Symbiosis Institute of Media and Communications and Hansraj College, University of Delhi, Pranati brings a strong academic foundation to her journalism. She specialises in real-time financial reporting, with a keen focus on precision, balance, and insight, aiming to decode market movements in a way that is both informative and accessible to readers across experience levels.