US-Iran Tensions Push Gold Prices Up on August 4

Gold prices in India's retail market rose on August 4 as renewed optimism over a possible peace agreement between the United States and Iran boosted investor sentiment.

The precious metal continued to trade at elevated levels, supported by safe-haven demand and uncertainty in global markets.

Ongoing tensions in the Middle East, particularly after Iran denied US talks and Strait of Hormuz supply risks returned, also contributed to gold's upward trend.

Market participants said gold prices remain sensitive to global economic indicators, including US dollar movement, inflation data, central bank policies, and geopolitical developments.

The 24-carat gold price remained around the higher range, while 22-carat gold traded slightly lower in major Indian cities such as New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai.