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Gold prices traded higher in early deals on Friday. The gains came after US President Donald Trump claimed that the conflict involving Iran was “settled, subject to finalisation,” and said he expected an agreement to be signed in the “next few days.”
The gold and silver prices were up, with precious metals extending gains on the Multi Commodity Exchange (MCX).
At around 9:32 am, MCX gold for August delivery was trading almost ₹800 higher at ₹1,50,320 per 10 grams.
Silver also witnessed gains during the session. MCX silver futures were up ₹2291 at ₹2,43,720 per kilogram.
The rise in metal prices comes after weeks of uncertainty triggered by the conflict involving the US, Israel and Iran. Investors have closely monitored developments in the region, as geopolitical tensions often influence demand for assets like gold.
According to reports, Trump expressed optimism over the possibility of a peace agreement with Iran.
Speaking about the developments, the US President said the conflict was settled “subject to finalisation” and added that he expected a deal to be signed “over the next few days.”
The comments fuelled hopes that normal shipping operations through the Strait of Hormuz could resume if an agreement materialises.
However, investors continue to await official confirmation and further developments surrounding the proposed agreement. A possible agreement could change the dramatic fluctuations in gold price.
Also read: Is the Strait of Hormuz closed? US Central Command fact checks Iran’s IRGC after fresh strikes
Retail gold prices varied across cities on Friday.
24K gold: ₹1,49,802 per 10 grams
22K gold: ₹1,37,335 per 10 grams
Silver (999 fine): ₹2,42,860 per kg
24K gold: ₹1,50,080 per 10 grams
22K gold: ₹1,37,573 per 10 grams
Silver (999 fine): ₹2,43,280 per kg
24K gold: ₹1,50,090 per 10 grams
22K gold: ₹1,37,583 per 10 grams
Silver (999 fine): ₹2,43,470 per kg
24K gold: ₹1,49,770 per 10 grams
22K gold: ₹per 10 grams
Silver (999 fine): ₹2,42,950 per kg
24K gold: ₹1,50,210 per 10 grams
22K gold: ₹1,37,693 per 10 grams
Silver (999 fine): ₹2,43,660 per kg
24K gold: ₹1,50,410 per 10 grams
22K gold: ₹1,37,876 per 10 grams
Silver (999 fine): ₹2,43,980 per kg
The HT Business Desk provides comprehensive coverage of the Indian and global financial markets. Based in Mumbai and New Delhi, the team tracks everything from Sensex and Nifty movements to the latest from India Inc., trade deals, and macroeconomic policy. We aim to empower readers with timely, fact-checked news that clarifies the complexities of the business world.
