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Commodities

Gold Prices Surge as Hopes for Middle East Peace Agreement Rise

Guavy AI Editorial Team
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Gold Silver
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The price of gold in India rose on August 7 due to expectations of a peace agreement in the Middle East. This increase was also fueled by global investors tracking developments in West Asia and awaiting US jobs data.

On the Multi Commodity Exchange (MCX), gold futures were trading at ₹149,490 per 10 grams, up 0.26% from the previous day. Silver futures were also strong, rising 0.90% to ₹228,660 per kg.

The rise in gold prices was not limited to India; global spot gold climbed 0.4% to $4,254.11 per ounce, marking its highest level in seven weeks. US gold futures gained 0.3% to $4,312.00.

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