Gold, silver prices slip marginally as US-Iran peace talks ease safe-haven demand

Representational image. File pic

Gold and silver prices, after increasing significantly, fell marginally on Tuesday. A significant surge in price amid the peace talks between the US and Israel, the prices of yellow metal now seem to be correcting every day.

On the Multi Commodity Exchange (MCX), gold futures declined by 0.15 per cent to Rs 1,52,688 per 10 grams at 10:20 am on an intraday basis.

On the other hand, silver futures (July) also lost over 0.66 per cent to Rs 2,49,724 per kg on Monday.

Gold prices in Mumbai and Delhi

Gold prices in Mumbai witnessed a marginal decline on Monday, with the price of 24-karat gold declining by Rs 193 for 10 grams compared to the previous day.

According to the latest market rates, 24-karat gold in Mumbai was priced at Rs 1,53,162 per 10 grams on Monday, up from Rs 1,53,367. The decline reflects trends in the precious metals market amid global economic developments.

Meanwhile, 22-karat gold prices in Mumbai also declined marginally, going downwards to Rs 1,40,296 per 10 grams. The previous day's price stood at around Rs 1,40,484.

The prices in Delhi also showed significant changes. Yellow metal was recorded at Rs 1,53,009 for 10 grams of 24-karat gold. The price of 22-karat gold in Delhi stood at Rs 1,40,156 for 10 grams.

Sensex jumps over 300 points, Nifty tops 23,900 as US-Iran deal lifts markets

Indian equity markets traded for the second day, opening higher in morning trade after the United States and Iran reached a preliminary agreement to end the conflict.

Sensex during the early hours of Tuesday rose over 300 points or 0.41 per cent to touch an intraday high of 76,579 in early trade, while Nifty gained around 90 points or 0.36 per cent to trade at 23,941, according to IANS.

Sectoral indices

Sectorally, buying was seen in realty, IT, consumer durables and financial stocks, with Nifty Realty gaining 0.86 per cent and Nifty IT rising 0.74 per cent. Moreover, FMCG, media, chemicals and auto indices also traded in positive territory.

In contrast, metal stocks witnessed selling pressure, dragging Nifty Metal down more than 1 per cent.

From the Nifty pack, Hindalco Industries, JSW Steel, Axis Bank, HDFC Life, Tata Motors Passenger Vehicles (TMPV) and Tata Steel were among the top losers.