On the 22nd of June, the retail market in India saw an increase in the price of the yellow metal, with both 24-karat and 22-karat gold rates exhibiting small advances throughout key cities. Similarly, the local bullion market exhibited only a moderate amount of volatility in silver prices.

As of today, the MCX gold pricing for August futures contracts was trading at Rs 148,120 per 10 grams, representing a value increase of 0.39%. At approximately 9:25 in the morning, there was a 1.18% increase in the price of MCX silver futures, which was trading at Rs 2,36,620 per kilogram.

There is little doubt that the announcement of a peace deal between the United States and Iran will provide the global financial markets and commodity prices with the much-needed relief they require. Reconstruction and rehabilitation in Iran will also be made possible as a result of this endeavour.