Gold bars
Gold prices rose on Friday, recording gains for the fourth consecutive week, supported by a weaker US dollar and the reopening of the Strait of Hormuz during the US-Iran ceasefire. 
Gold futures for June delivery increased 1.48%, or $71.30, to $4,879.60 per ounce, rising 1.92% over the week.
Silver futures for April delivery jumped 3.98%, or $3.132, to $81.738 per ounce, extending weekly gains to about 7.10%.
The momentum followed Iran’s announcement, through Foreign Minister Abbas Araghchi, of the full reopening of the Strait of Hormuz to commercial shipping during the current truce with the US.
US President Donald Trump also reiterated optimism about reaching a peace agreement with Iran, signaling the possibility of a new round of talks over the weekend.
Indian banks have suspended gold and silver import orders from foreign suppliers, leading to a buildup of tons of precious metals at customs due to the absence of an official government import directive.
Gold bars
Gold prices rose on Friday, recording gains for the fourth consecutive week, supported by a weaker US dollar and the reopening of the Strait of Hormuz during the US-Iran ceasefire.
Gold futures for June delivery increased 1.48%, or $71.30, to $4,879.60 per ounce, rising 1.92% over the week.
Silver futures for April delivery jumped 3.98%, or $3.132, to $81.738 per ounce, extending weekly gains to about 7.10%.
The momentum followed Iran’s announcement, through Foreign Minister Abbas Araghchi, of the full reopening of the Strait of Hormuz to commercial shipping during the current truce with the US.
US President Donald Trump also reiterated optimism about reaching a peace agreement with Iran, signaling the possibility of a new round of talks over the weekend.
Indian banks have suspended gold and silver import orders from foreign suppliers, leading to a buildup of tons of precious metals at customs due to the absence of an official government import directive.
