On April 8, gold and silver prices experienced a significant rally following the announcement of a temporary ceasefire between the United States and Iran. Spot gold surged to $4,819 per ounce, marking a 2.5% increase, while silver jumped nearly 6% to around $77 per ounce. This surge was attributed to easing geopolitical tensions and a weakening US dollar, with the Dollar Index falling below 99. Analysts noted that the announcement from US President Donald Trump, which included a two-week pause in attacks and a proposal from Iran for negotiations, prompted a broad relief rally across risk assets. However, experts like Renisha Chainani from Augmont warned that this truce is not a permanent solution and that failure in negotiations could lead to a sharp reversal in prices. Technically, both metals have broken key resistance levels, with gold surpassing $4,800 (approximately ₹1,53,000 per 10 grams) and silver breaking above $76.5. The outlook for these precious metals will depend heavily on the durability of the ceasefire and upcoming signals from the US Federal Reserve regarding interest rates.