Gold and Silver Prices Today Under Pressure Amid US-Iran Talks and Market Cues

New Delhi: There was not much movement in the prices of gold and silver at the beginning of the week, but the market trend appeared to be under some pressure. The impact of the strong US dollar and rising crude oil prices is clearly visible on precious metals. At the same time, this week the eyes of investors are focused on the ongoing talks between America and Iran and the decisions of the Federal Reserve.

Why is there pressure in the market?

According to analysts, due to the strengthening of the dollar, investment in gold reduces. Besides, rising oil prices also affect the mood of the market. In such a situation, there may be selling pressure on gold and silver in this short trading week.

What is the situation in the international market?

A slight decline was seen in the prices of gold in the international market. Spot gold fell about 0.3% to $4,695 an ounce. At the same time, silver also slipped by about 0.3% and reached the level of $ 75 per ounce.

What is the latest gold price in India?

Gold prices in the country are showing slight differences according to cities. In Mumbai, 24 carat gold is trading at around Rs 152,790 per 10 grams. In Delhi it is around Rs 152,530, while in Kolkata it is around Rs 152,590.

Why are prices higher in South India?

Gold prices remain slightly high in the cities of South India. In Chennai it has reached around Rs 153,240 per 10 grams. Whereas in Hyderabad and Bengaluru also the prices remain around Rs 1,53,000.

Where do silver prices stand?

Despite a slight decline in silver prices, the level remains high. In Mumbai, silver is trading around Rs 245,660 per kg, while in Delhi it is trading around Rs 245,240.

What is the trend in other cities?

Silver prices remain at the top in Chennai and Hyderabad, where prices are around Rs 2,46,000 per kg. Rates in Bengaluru and Kolkata are also in the same range.

What are the further indications?

Market experts say that this week the movement of gold and silver will depend on global signals. Especially the US-Iran talks, oil prices and the policy of the Federal Reserve will decide whether the prices will rise or fall.

Overall, the market is cautious at the moment and investors are waiting for big decisions.