Gold, Silver Prices Surge on Optimism Over US-Iran Talks

Gold and silver prices surged on August 6 due to renewed optimism surrounding US-Iran negotiations. The international spot gold price rose by 0.76% to $4,338.10 per ounce, while silver increased by 0.32% to $62.49 per ounce during morning trade on Comex.

The domestic spot gold closed the previous session at Rs 1,44,617 per 10 grams, and futures gold for the October contract traded 0.32% higher to Rs 1,48,968 per 10 grams. However, silver futures for the September contract dropped 0.16% to Rs 2,27,231 per kilogram.

The market is now focused on upcoming US non-farm payrolls and unemployment data, which could influence the Federal Reserve's interest rate outlook and the direction of the US dollar. Domestic gold prices will also be affected by rupee movements and global bullion trends.