Gold rises 5% to ₹154,817 while silver hits ₹252,750
Gold and silver prices saw a big boost after news of the possibility of fresh U.S.-Iran diplomacy talks.
On the MCX, gold shot up 5% to ₹154,817 per 10gm, while silver surged nearly 11% to ₹252,750 per kilogram.
Globally too, gold neared $4,840 an ounce and silver stayed strong above $79.50.
Dollar index and yields slip
The US dollar index dropped and Treasury yields slipped, both moves that tend to help precious metals shine.
Gaurav Garg from Lemonn Markets Desk shared that MCX Gold was trading in the ₹1,54,500-₹1,55,000 range and a move above ₹1,55,000 could revive momentum toward ₹1,57,000-₹1,58,000.
Back home in India: inflation ticked up slightly to 3.4%, bond yields held steady at 6.94%, oil prices fell over 11% as supply worries eased, and copper jumped thanks to strong demand from China.