𝗚𝗼𝗹𝗱 𝗔𝗻𝗱 𝗦𝗶𝗹𝘃𝗲𝗿 𝗣𝗿𝗶𝗰𝗲𝘀 𝗥𝗲𝗯𝗼𝘂𝗻𝗱 𝗢𝗻 𝗨𝗦-𝗜𝗿𝗮𝗻 𝗧𝗮𝗹𝗸𝘀
Precious metal prices rose on Monday following reports of progress in peace talks between the United States and Iran.
Key market updates:
• Spot silver rose 2.6% to $66.60 per ounce. • Spot gold increased 1.2% to $4,209.03 per ounce. • Platinum gained 1.3% to $1,684.85 per ounce. • Palladium rose 1.5% to $1,276.88 per ounce. • Brent crude oil prices fell 0.5% as inflation fears eased.
Economic factors:
• Investors monitor Federal Reserve officials for signals on interest rates. • Major brokerage firms expect the Federal Reserve to keep interest rates unchanged through 2026. • Physical gold demand in India remains low. • Gold in China traded at a discount. • Swiss gold exports fell 9% in May.
Upcoming data points for investors:
• People's Bank of China policy decisions. • Manufacturing and services PMI readings. • US housing data. • Personal Consumption Expenditures inflation figures. • Consumer sentiment data.
Source: The Times of India