Gold Surges to One-Month High in Delhi Amid US-Iran Optimism

Gold prices in Delhi surged to a one-month high on Wednesday, reaching Rs 1.5 lakh per 10 grams due to rising global rates and optimism over a potential US-Iran agreement.

The yellow metal gained Rs 2,500, or 1.7 percent, from the previous day's closing level of Rs 1,47,500 per 10 grams, according to the All India Sarafa Association.

Silver also saw a significant increase, rising by Rs 6,200 to almost a one-month high of Rs 2,32,700 per kilogram.

Experts attribute the surge in gold prices to growing optimism over a potential US-Iran agreement and reduced expectations of further monetary tightening by the Federal Reserve.

Spot gold gained USD 85.28, or 2.09 percent, to USD 4,162.76 per ounce, while silver rose a little over 3 percent to USD 61.35 per ounce in global markets.