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Dollar Decline Fuels Gold and Silver Gains on MCX Amid Iran Talks

Guavy AI Editorial Team
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Gold and silver prices rose on India's Multi Commodity Exchange (MCX) Monday morning, August 3, as the US dollar declined following a significant drop in crude oil prices.

The news came after US President Donald Trump announced that talks with Iran would take place on Monday, although he did not set a deadline for an agreement. This statement raised hopes of a deal between the US and Iran to reopen the Strait of Hormuz and resolve the impasse over Iran's nuclear capabilities.

MCX gold October futures increased by 0.13% to ₹1,43,557 per 10 grams, while MCX silver September contracts rose by 0.40% to ₹2,18,061 per kg around 9:10 AM.

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