Gold Prices Inch Up Amid Calm US-Iran Tensions

Bullion prices rose marginally on August 4 due to calm US-Iran tensions. The reduced pressure on oil and USD allowed gold to inch up 0.47 percent to $4,109.90 per ounce.

Silver surged 1.84 percent to $58.92 per ounce in the morning trade on Comex.

The futures gold for the October contract traded with a 0.34 percent increase to Rs 1,43,397 per 10 grams, and silver futures for the September contract surged 1.12 percent to Rs 2,19,180 per kilogram.

Analyst Jateen Trivedi from LKP Securities stated that going forward, the market's focus will remain on the Federal Reserve's policy outlook, which continues to be the key driver for bullion prices.