Gold, Silver Rate Today: Precious Metals Hover Around Recent Highs As Investors Eye US-Iran Talks

Gold and silver prices held steady on February 27, 2026, hovering near recent highs. Investors weighed on a combination of factors, such as the US-Iran nuclear talks and rise in the dollar.

In the domestic markets, gold futures prices for April 2026 were trading at Rs 1.60 lakh for 10 grams, up 0.30 per cent from the previous close. Silver futures for May 2026 were trading at Rs 2.75 lakh for a kg, up nearly 2.60 per cent from the previous session. In the international markets, gold futures were trading at $5,188.90 an ounce. Gold prices were on track for their seventh consecutive month of gains, while silver prices were trading higher than the previous session at $89.80 on COMEX.

The US and Iran held indirect talks, mediated by Oman, on February 26, in Geneva, Switzerland, over their long-standing nuclear dispute. The Omani mediator said that the two sides made progress, but no agreement has been reached yet. Iranian Foreign Minister Seyed Abbas Araghchi said that the latest round of the US-Iran talks has been “the most intense so far”.

Investors are watching out for any risks of a military clash in the region if the two nuclear powers fail to reach any meaningful breakthrough in the impasse. Negotiations with technical-level discussions will resume next week in Vienna, Austria.

Meanwhile, the US started collecting a temporary new 10 per cent import tariff from February 24. However, the US Trade Representative Jamieson Greer said that these rates will rise to 15 per cent for certain countries. Uncertainty over US tariff policies and ongoing tensions between the US and Iran led investors to hold long positions in the safe-haven assets. Additionally, the US jobless claims data indicated that benefits rose slightly last week and the unemployment rate held steady in February. Hopes of the US Federal Reserve Chair nominee Kevin Warsh opting for rate cuts during the year also lowered, which also played on investor sentiments.

"Gold is benefiting from defensive allocations. Silver’s stronger move reflects its higher volatility and its role as both a safe haven asset and an industrial commodity, meaning any expectation of future policy easing or infrastructure spending can magnify gains," Ross Maxwell, global strategy operations lead at VT Markets, said.

Meanwhile, the dollar was near a three-week high, and the dollar index was at 97.76. The rupee ended at 91.01 against the dollar, same as the previous close. Gold and silver prices are expected to continue to remain supported by geopolitical uncertainties, central bank buying, deregulation by China, and the overall demand for safe haven assets.