Gold rises, silver slips in futures trade
Gold prices in the afternoon session traded higher, rising Rs 1,084, or 0.72 percent, to Rs 1,48,889 per 10 grams. Prices moved in a wide range during the session, touching a high of Rs 1,52,450 before easing. Silver prices fell Rs 6,616, or 2.71 percent, to Rs 2,34,063 per kg. The contract slipped despite hitting an intraday high of Rs 2,43,815, reflecting selling pressure.
Dr. Renisha Chainani, Head – Research at Augmont, “Easing geopolitical tensions reduced safe-haven demand for gold and silver. Confirmation of talks between Iranian and US officials in Oman has tempered risk sentiment, with investors closely tracking further developments in the negotiations.”