Gold, Silver Hold Stable After Israel-Iran Ceasefire — Check Prices In Mumbai, Chennai, And Other Cities

Gold and silver prices were largely flat on Friday as the demand for safe haven assets eased slightly.

This follows the volatile prices of precious metals at the start of the week, when the conflict between Israel and Iran in the Middle East was destabilising relatively riskier asset classes, leading to a spike in haven assets.

Gold price was trading at Rs 97,300 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 96,950 per 10 grams, compared to Rs 97,290 per 10 grams on Wednesday. Gold price in Mumbai was Rs 97,120 per 10 grams, against Rs 97,450 per 10 grams.

In Kolkata, the rate was Rs 97,990 per 10 grams, while in Bengaluru the rate stood at Rs 97,200. Price for the precious commodity was the highest in Chennai, trading at Rs 97,400 per 10 grams.

Gold spot price was 0.26% lower at $3,319.41 an ounce on Friday.

Aug. 5 futures for the yellow metal saw a 0.04% decline to Rs 97,050, according to the Multi Commodity Exchange.