Gold, silver surge as U.S.-Iran talks lift safe-haven demand
Gold and silver prices just saw a big jump, thanks to growing optimism around U.S.-Iran diplomatic talks.
Gold on Comex climbed $173 to $4,325 per troy ounce, the highest since mid-June, while silver rose $2.74 to hit $63 per troy ounce.
A weaker US dollar made these metals even more attractive for investors looking to play it safe.
Iran and Oman advance Hormuz talks
The excitement comes after Iran and Oman made real progress in talks about reopening the Strait of Hormuz, a key shipping route.
Iran's Foreign Ministry spokesperson Esmail Baqaei said they're working toward safer shipping while establishing safe shipping routes, while safeguarding the sovereign rights and security interests of both Iran and Oman.
Even President Trump sounded hopeful for a deal soon.
MCX gold and silver prices surge
India felt the impact too: gold futures on MCX gained nearly ₹5,000 to ₹148,889 per 10gm, and silver surged ₹7,285 in the latest session to reach ₹228,900 per kilogram.
So if you've been eyeing jewelry or thinking about investing in precious metals, prices are definitely on the move!