US plans Iran talks push gold and silver prices lower
Gold and silver prices took a hit on Thursday after news broke that the US is planning direct talks with Iran.
Gold slipped over 1% to just above $4,700 per ounce, while silver dropped 3% to $73 per ounce during Asian trading.
The talks could ease some of the global tensions that have been pushing investors toward precious metals.
Mumbai experts advise staggered gold buying
In Mumbai, gold fell over 1% to just above $4,700 per ounce and silver tumbled 3% to $73 per ounce.
Experts suggest buying gold gradually instead of all at once right now. Aksha Kamboj from India Bullion & Jewellers Association recommends a staggered approach due to market swings, while Ponmudi R from Enrich Money points out that technical trends still show some upside for gold.
Silver's industrial demand also means it could bounce back when prices dip.