Gold, Silver Remain Tepid As Middle East Conflict Eases — Check Prices In Mumbai, Chennai, And Other Cities

Gold and silver prices remained little changed on Thursday as the demand for safe haven assets eased slightly. This shift followed a de-escalation in the conflict between Israel and Iran, after US President Donald Trump brokered a deal between the two countries.

Gold price was trading at Rs 97,630 per 10 grams, slightly lower than its all time high of Rs 1,00,480 per 10 grams, as per the India Bullion Association.

Gold prices reached an all-time high last week following Israel's military operations against Iran's nuclear power plant sites. However, tensions appear to have eased with US President Donald Trump announcing that Israel and Iran have agreed to a "complete and total ceasefire".

In New Delhi, the price stood at Rs 97,290 per 10 grams, compared to Rs 96,880 per 10 grams on Wednesday. Gold price in Mumbai was Rs 97,450 per 10 grams, against Rs 97,050 per 10 grams.

In Kolkata, the rate was Rs 97,320 per 10 grams, while in Bengaluru the rate stood at Rs 97,530. Price for the precious commodity was the highest in Chennai, trading at Rs 97,740 per 10 grams.

Gold spot price was 0.01% lower at $3,331.29 an ounce on Thursday.

Aug. 5 futures for the yellow metal saw a 0.38% rise to Rs 97,390, according to the Multi Commodity Exchange.

Silver price dropped on Wednesday, standing at Rs 1,06,630 per kg, compared to Rs 1,05,500 per kg on Monday. July 4 futures for the commodity saw a 0.11% gain to stand at Rs 1,06,100 per kg.

Silver spot price was trading at $36.28 on June 26.