Gold Prices Rise in India Amid US-Iran Talks and Crude Export Boom
The prices of gold and silver in India's retail market rose on Wednesday, September 30, amidst ongoing geopolitical uncertainty between the US and Iran.
US-Iran talks have been revived to end seven months of war as Tehran presses for a response to a revised ceasefire framework. Middle East crude exports have reached their highest level since the conflict began, according to CNBC US.
In international markets, gold prices fell by 0.2% at $4,170.63 per ounce, down more than 6% so far this month. However, MCX gold rate rose 0.64% higher at ₹1,49,810 per 10 grams.
Both 24-karat and 22-karat gold rates showed a marginal decline across major cities in India, while silver prices also dropped in the domestic bullion market. The MCX silver futures were trading about 0.43% higher at ₹2,26,270 per kg.