Commodities
Gold Prices Decline Amid US-Iran Conflict Uncertainty
Gold prices in India's retail market declined on Friday, September 4, amidst ongoing uncertainty over the US-Iran conflict. The European Union joined the US-led 'Operation Economic Outcast' aimed at severing Tehran from the global financial system.
The price of gold held steady at $4,477.10 per ounce in international markets, with a small weekly gain expected due to highly anticipated US payrolls data. This development led to a marginal decline in 24-karat and 22-karat gold rates across major Indian cities.
Silver prices also decreased in the domestic bullion market, with MCX gold rate trading 0.38% lower at ₹155,610 per 10 grams and MCX silver futures trading about 0.59% lower at ₹240,560 per kg.