New Delhi, May 25 -- Gold and silver prices traded higher on Monday, 25 May, as hopes of a peace deal to end the Iran war boosted demand for precious metals, while a softer US dollar and a drop in crude oil prices eased concerns over inflation and higher-for-longer interest rates.

MCX gold near-month futures jumped Rs.821 per 10 grams to hit the day's high of Rs.1,59,500, attempting to partially recover from recent losses, while silver futures also gained sharply by Rs.5,399 per kilogram to touch the day's high of Rs.2,77,245.

The market turned optimistic after US President Donald Trump said on Saturday that a deal with Iran over the conflict, including reopening the Strait of Hormuz, had been "largely negotiated" following discussions ...