Gold Prices Rise Over 1% on Dollar Weakness and Iran-US Talks; Silver Surges 3.9%
मुख्य बातें
- •Gold prices rose over 1% on Monday, supported by a weaker US dollar and progress in Iran-US peace talks.
- •Spot gold reached $4,570.88 per ounce, while US gold futures for June delivery climbed to $4,572.90.
- •Silver surged 3.9% to $78.42 per ounce, platinum and palladium also posted gains of 1.9% each.
- •Domestic MCX gold futures settled at around Rs 1.58 lakh per 10 grams, with silver futures at Rs 2.71 lakh per kilogram.
- •Analysts predict gold may trade sideways this week, with oil prices volatile due to shifting US-Iran negotiations.
- •The rupee strengthened from 97 to 95.70 against the dollar, limiting domestic gold price gains despite stable global trends.
- •Indian commodity markets will remain closed on Thursday, May 25, for Bakri Id.
Gold prices climbed more than 1% on Monday as the US dollar weakened and investors closely monitored ongoing peace negotiations between the United States and Iran. Spot gold advanced 1.4% to $4,570.88 per ounce by 0045 GMT, while US gold futures for June delivery gained 1.1% to reach $4,572.90. The decline in the dollar made gold priced in the greenback cheaper for buyers using other currencies, supporting demand for bullion. US President Donald Trump stated on Sunday that Washington and Tehran were close to reaching a broad agreement aimed at reducing tensions in the Gulf region and reopening the Strait of Hormuz. In a post on Truth Social, Trump claimed that the agreement had been “largely negotiated” and that only final details remained before an official announcement.
