Precious Metals Advance

Gold prices rose, rebounding from recent lows to trade near multi-month highs, with the rally also noted in markets like India. Similarly, silver prices extended gains for a fourth successive day, holding firm around $69.00 per troy ounce as both metals benefited from renewed investment demand.

US Fiscal Concerns Weaken Dollar

A key driver for precious metals was a weaker US Dollar, which faced pressure from mounting concerns over the US fiscal outlook and debt management. Market participants pointed to new fiscal measures, including a US Treasury bond buyback surge, as weighing on the greenback and providing a supportive backdrop for dollar-denominated assets.

Markets Await Details on Iran Sanctions

A cautious tone prevailed across financial markets as investors awaited details of a new package of US sanctions against Iran. This geopolitical uncertainty was a central focus for traders in currencies, equities, and commodities, contributing to a risk-aware environment.