US‑Iran peace deal lifts Indian gold and silver prices

Gold prices on India's Multi Commodity Exchange rose sharply on June 15, with August‑delivery contracts reaching about Rs 1,53,147 per 10 grams after news of a preliminary US‑Iran agreement to end their conflict. Silver futures also surged, gaining more than 2% to around Rs 2,51,878 per kilogram, before snapping a three‑day rally on June 16 and falling about 1% to Rs 2,49,329 per kilogram as traders awaited clarification on the pact.

The prospect of reduced West‑Asian tension lowered oil prices, weakened the US dollar and eased inflation concerns, which together boosted bullion. Analysts noted that “market participants have welcomed the prospect of easing tensions in West Asia,” said Pinky Yadav, Commodity Fundamental Analyst at Choice Broking. However, the lack of a published memorandum of understanding left investors cautious, shifting focus to upcoming US Federal Reserve policy decisions and a recent 1‑percentage‑point rate hike by the Bank of Japan.

Across broader commodities, gold and silver posted gains of about 1.6% and 2.2% respectively, while crude oil fell roughly 5.5% on the same day. The price movements reflect how geopolitical developments can quickly influence Indian precious‑metal markets and global commodity sentiment.