On May 7, gold prices in New Delhi rose by ₹600 to ₹1.56 lakh per 10 grams, continuing a trend of gains attributed to a weakening US dollar and optimism surrounding a potential peace deal between the US and Iran. Silver prices also saw a significant increase, jumping ₹7,000 to ₹2,61,500 per kg, marking the fourth consecutive day of price increases for both metals, as reported by the All India Sarafa Association. The dollar index fell by 0.14% to 97.88, while Brent crude oil prices dropped more than 3% to USD 97.97 per barrel. Analysts suggest that easing tensions in the Middle East have bolstered demand for precious metals, with gold gaining ₹2,900 in just two days. Gaurav Garg, a research analyst at Lemonn, noted that the sentiment surrounding the US-Iran conflict has positively influenced market dynamics, enhancing the appeal of safe-haven assets like gold and silver.