Gold and Silver Prices Fluctuate Amid Stalled US-Iran Peace Talks
Silver gains Rs 3,000, gold at Rs 1.52 lakh even as Iran war peace talks see no breakthrough. What should investors do?
The Economic TimesImage: The Economic Times
Gold and silver prices opened mixed on the Multi Commodity Exchange of India, with silver rising by ₹3,000 to ₹2,64,922 per kg, while gold fell by ₹532 to ₹1,52,000 per 10 grams. The ongoing U.S.-Iran conflict has contributed to market volatility, impacting inflation and interest rates.
- 01Silver futures rose by ₹3,000 to ₹2,64,922 per kg.
- 02Gold futures declined by ₹532 to ₹1,52,000 per 10 grams.
- 03Stalled U.S.-Iran peace talks are affecting market sentiment.
- 04Expectations of prolonged high inflation may keep interest rates elevated.
- 05Experts suggest buying silver on dips with specific target ranges.
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On the Multi Commodity Exchange of India, silver prices surged by ₹3,000 or 1.1%, reaching ₹2,64,922 per kg, while gold prices fell by ₹532 or 0.3%, settling at ₹1,52,000 per 10 grams. The fluctuation in prices is attributed to stalled peace talks between the U.S. and Iran, which have raised concerns over inflation and interest rates. In the international market, spot gold decreased by 0.6% to $4,684.32 per ounce. Analysts predict continued volatility in precious metal prices, influenced by the dollar index and crude oil fluctuations. Manoj Kumar Jain from Prithvi Finmart recommends buying silver on dips around the ₹2,58,800-2,55,500 range with a stop loss below ₹2,51,000. Physical gold prices vary across Indian cities, with standard gold (22 carat) priced at ₹1,11,832 per 8 grams in Delhi.
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The fluctuations in gold and silver prices may influence buying decisions for consumers, especially during the wedding season when gold purchases typically rise.
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