Gold, Silver Rate Today Live Updates: Gold prices set for second straight week of decline

Gold and silver prices moved slightly higher in the spot market on Thursday as traders maintained a cautiously positive outlook amid ongoing tensions between the US and Iran, while elevated global crude oil prices continued to fuel inflation concerns.

In Delhi’s spot market, gold with 99.9% purity extended its gains for a third consecutive session, increasing by Rs 600 to reach Rs 1,65,500 per 10 grams, inclusive of all taxes, according to local traders.

Saumil Gandhi said gold remained firm on Thursday after recovering from recent lows, supported by improving optimism surrounding diplomatic discussions between the US and Iran, which helped strengthen sentiment in the bullion market.

He further noted that investor sentiment improved as expectations rose that ongoing negotiations between the two countries could ease geopolitical tensions in the Middle East.

Silver prices also rebounded after falling for two straight sessions, rising Rs 5,000 to Rs 2,71,000 per kilogram as investors returned to the metal following the recent sharp decline, according to market participants. Additional support for silver came from softer US Treasury bond yields.