New Delhi, April 8 -- Gold and silver rates today jumped up to 7% after US President Donald Trump and Iran agreed to a two-week ceasefire to allow negotiations aimed at ending the US-Iran war that has unsettled global markets.

COMEX gold rate today surged as much as 3.1% to rise above $4,850 per ounce, building on a 1.2% increase from the previous session. Meanwhile, COMEX silver prices rose nearly 6.80% to $76.92 per ounce on Wednesday, during the Asian trading hours.

Gold prices have dropped around10%, and silver prices have declined over 17% since the conflict started at the end of February. However, a modest rebound in recent days has been supported by optimism around a potential ceasefire and expectations that slowing global econom...