Gold and silver prices experienced significant increases today, with gold reaching $4,850 per ounce after a 3.1% rise and silver climbing 7% to $76.92 per ounce. This surge follows a ceasefire agreement between US President Donald Trump and Iran, aimed at allowing negotiations to end the ongoing conflict that has disrupted global markets. The recent price increases come after both metals had seen declines of around 10% for gold and 17% for silver since the conflict's escalation in February. Analysts suggest that while prices may remain volatile, they could benefit from safe-haven demand amid ongoing geopolitical tensions and slowing economic growth. Ross Maxwell, Global Strategy Operations Lead at VT Markets, indicated that gold's appeal as a hedge will persist, while silver's performance could be mixed due to its industrial use. Technical forecasts suggest gold may trade between $4,580 and $4,800, and silver between $67 and $77 this week, pending market developments.