Gold Silver Price: Bullion market shines after America-Iran peace agreement, tremendous rise in gold and silver

Gold Silver Price Today: The impact of the news of the peace agreement between America and Iran is clearly visible on the domestic bullion market. On MCX, gold rose by ₹2,629 to ₹1,53,157 per 10 grams, while silver rose by ₹5,564 to trade at ₹2,51,750 per kg. In the retail market also, strong gains were registered in both gold and silver. According to experts, this rise in precious metals has been seen due to geopolitical developments and change in sentiment of global investors.

It is being told that the impact of global geopolitical developments was seen in the domestic commodity and bullion markets on Monday. After the news of the peace agreement between America and Iran, investor activity increased, due to which a strong rise in the prices of gold and silver was recorded.

Why did the prices of gold and silver increase?

According to market experts, the expectation of a reduction in the long-running tension between the US and Iran has strengthened the confidence of global investors. According to the statement of US President Donald Trump, the two countries have agreed to an important peace agreement and decided to stop military activities. After this development, a buying environment was created in the commodity market, the effect of which was also visible on the prices of gold and silver.

What is today’s price on MCX?

Gold futures for August delivery on Multi Commodity Exchange (MCX) rose by 1.55 per cent or ₹ 2,629 to reach ₹ 1,53,157 per 10 grams. It had closed at ₹1,50,528 per 10 grams in the last trading session. At the same time, silver futures for July delivery were seen trading at ₹ 2,51,750 per kg with a rise of 2.26 percent i.e. ₹ 5,564.

Prices increased in retail market also

According to India Bullion Rates, gold prices rose by ₹2,530 to ₹1,53,440 per 10 grams in the domestic retail market. Whereas silver increased by ₹ 5,580 and reached the level of ₹ 2,53,230 per kg.

Also read- Gold-Silver Rate Today: Huge jump in gold and silver prices in India, know the latest price in your city.

Experts believe that global economic signals, movement of the dollar, policies of central banks and international political developments will decide the direction of gold and silver prices in the coming days. If the positive environment in global markets continues, the precious metals may continue to fluctuate.