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Commodities

Gold Prices Surge on MCX Amid US-Iran Deal Hopes and Rate Hike Expectations

Guavy AI Editorial Team
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Gold prices on MCX rose by 0.35% to Rs. 1,43,416 per 10 grams on August 4, driven by a potential US-Iran deal. October gold futures also saw a gain of 0.35%. In contrast, September silver futures advanced 1.04% to Rs. 2,19,004.

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.

According to the CME FedWatch Tool, traders now expect a 65% chance of a September rate hike after the US Federal Reserve maintained its interest rate at its latest meeting.

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