India Gold Prices Rise Amid US-Iran Peace Hopes

Gold and silver prices in India rose on August 4 amid renewed hopes of a peace resolution between the US and Iran, according to reports. The conflict has led to concerns about Middle Eastern supply and oil prices rebounded slightly after plummeting in the previous session.

US President Donald Trump insisted that talks between the US and Iran are ongoing, despite Tehran's claims that it had no plans for direct negotiations with Washington. Trump called the Islamic Republic's leaders 'unbelievably duplicitous' and accused them of lying about peace talks.

The MCX gold rate was trading 0.43% higher at ₹143,620 per 10 grams, while MCX silver futures were trading about 1.23% higher at ₹219,880 per kg.