New Delhi, May 1 -- Gold and Silver prices today on 1 May: Gold rate rose on the MCX on Friday (1 May) morning, mostly on value buying after US President Donald Trump said his blockade would cause Iran's oil industry to "explode" this week.

However, gains were capped as crude oil prices vaulted to levels last seen four years ago, raising inflation fears and dimming the prospects of near-term interest rate cuts. At its recent meeting, the US Federal Reserve kept rates steady in a range of 3.5% to 3.75%.

MCX gold June futures were 1.44% up at Rs.1,51,200 per 10 grams, while MCX silver futures were 2.4% up at Rs.2,38,790 per kg around 9:13 am.

Trump said he will blockade Iran until it agrees to a nuclear deal. Still, it could take a while...