Gold Price Today: The yellow metal rate opens flat on India's MCX on Monday, April 27, as uncertainty over US-Iran peace talks continues.
At 9:01 am on Monday, the MCX gold May futures contract rose marginally around 0.07% to Rs 1,51, 387 per 10 grams, while the MCX silver May futures fell 0.26% to Rs 2,44,001 per kg.
On Friday, the MCX gold May futures closed 0.08% up at Rs 1,51,406 per 10 grams, while the MCX silver May futures ended 1.16% higher to Rs 2,44,321 per kg.
Globally, gold dropped after efforts to resume peace talks between the US and Iran paused and energy flows through the Strait of Hormuz remained blocked, two months into a war that has rattled global markets and heightened inflation risks.
According to Bloomberg, the precious metal fell around 0.8% to trade near $4,670 an ounce, continuing its 2.5% decline in the previous week, before paring losses after Axios said that Iran had sent Washington a new proposal to reopen the Strait of Hormuz.
(This is a developing story.)
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