Gold prices rose in early deals on Friday, following US President Donald Trump's comments on the Iran conflict resolution. Trump expressed optimism over the possibility of a peace agreement with Iran, which fuelled hopes that normal shipping operations through the Strait of Hormuz could resume.
The gold and silver prices were up, with precious metals extending gains on the Multi Commodity Exchange (MCX). MCX gold for August delivery was trading ₹800 higher at ₹1,50,320 per 10 grams, while MCX silver futures were up ₹2291 at ₹2,43,720 per kilogram.
Retail gold prices varied across Indian cities, with New Delhi seeing 24K gold at ₹1,49,802 per 10 grams and 22K gold at ₹1,37,335 per 10 grams. Mumbai saw 24K gold at ₹1,50,080 per 10 grams and 22K gold at ₹1,37,573 per 10 grams.
The rise in metal prices comes after weeks of uncertainty triggered by the conflict involving the US, Israel and Iran. Investors have closely monitored developments in the region, as geopolitical tensions often influence demand for assets like gold.
