Gold, Silver Futures Tumble As US-Iran Peace Deal Uncertainty Sparks Selloff Nation

Gold and silver futures witnessed sharp declines on Friday as investors dumped precious metals amid uncertainty over the implementation of the US-Iran peace agreement, a stronger US dollar and a broader selloff in global markets. 

On the Multi Commodity Exchange (MCX), gold contracts for August delivery fell Rs 3,392, or 2.27 per cent, to Rs



1,45,917 per 10 grams in a business turnover of 9,099 lots, extending losses for a second consecutive session.

Analysts said bullion prices are likely to remain volatile as investors continue to assess developments in West Asia, the progress of the US-Iran peace process, and the outlook for global interest rates and economic growth.