Gold Prices Surge Amid Renewed Optimism in US-Iran Talks
The price of gold surged on August 6 due to renewed optimism surrounding US-Iran negotiations. International spot gold rose 0.76% to $4,338.10 per ounce, while silver increased by 0.32% to $62.49 per ounce during the morning trade on Comex.
The domestic spot gold closed at Rs 1,44,617 per 10 grams on August 5. The October contract for domestic futures gold traded 0.32% higher at Rs 1,48,968 per 10 grams, while silver futures for the September contract dropped 0.16% to Rs 2,27,231 per kilogram.
Market participants are now focused on the upcoming US non-farm payrolls and unemployment data, which could significantly influence the Federal Reserve's interest rate outlook and the direction of the US dollar. Domestic gold prices will continue to take cues from rupee movements alongside global bullion trends.