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Commodities

Gold Prices Surge on MCX Amid US-Iran Deal Hopes

Guavy AI Editorial Team
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On August 4, gold prices rose on MCX due to potential US-Iran talks. The October gold futures contract increased by 0.35% to Rs. 1,43,416 per kilogram.

The September silver futures contract also saw a rise of 1.04% to Rs. 2,19,004 per kilogram.

Brent crude futures rose 1.42% to $84.96 per barrel, while US West Texas Intermediate (WTI) edged higher by 1.01% to $81.15 per barrel.

Ajay Kedia, director at Mumbai-based Kedia Commodities, stated that 'Gold is currently in a consolidation phase. If we see weakness in the job market, it could pressure the US dollar and as a result there will be gains in gold.'

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