Archive · 3 Aug 2026
Gold, Silver Prices Rise as Trump Halts Iran Strike
On August 3, gold and silver prices in India went up a little.
This happened after President Trump said he would not attack Iran and that talks with Iran would start the next day.
Because people thought the world might be safer, oil prices fell.
The rise in gold and silver made them a bit more expensive for people buying them in cities like Delhi, Mumbai, and Kolkata.
The news shows how politics can change the cost of metals and oil.
Gold and silver prices in India rose on 3 August after Trump called off a planned Iran strike.
Trump announced negotiations with Iran would begin the next day, boosting hopes for a diplomatic resolution.
Oil prices fell in early Asian trading, with WTI and Brent futures dropping 4.5% and 4.4% respectively.
MCX gold futures up 0.15% at ₹143,640 per 10 grams; silver futures up 0.27% at ₹218,750 per kg.
Retail rates for 24‑karat and 22‑karat gold, and 999‑fine silver increased across major Indian cities.
- Who
- U.S. President Donald Trump
- What
- Called off a planned strike on Iran and announced negotiations would begin the next day
- When
- Announcement on Sunday 2 August; price changes reported on Monday 3 August
- Where
- United States (Air Force One) and India (retail markets)
- Why
- To reduce geopolitical risk and encourage diplomatic talks, which lowered oil prices and lifted precious‑metal prices
- 24‑karat gold price (New Delhi)
- ₹143,150 per 10 gm
- 24‑karat gold price (Mumbai)
- ₹143,400 per 10 gm
- 999‑fine silver price (New Delhi)
- ₹218,150 per kg
- WTI crude price (3 Aug)
- $80.89 per barrel
- Brent crude price (3 Aug)
- $84.10 per barrel