New Delhi:Gold prices slipped marginally by Rs 200 in the national capital, while silver prices remained unchanged amid subdued local demand. According to marketmen, gold of 99.9 per cent purity fell Rs 200 to Rs 1,59,200 per 10 grams from Monday’s closing level of Rs 1,59,400 per 10 grams. However, silver prices remained unchanged at Rs 2,60,700 per kg. Analysts said easing geopolitical tensions boosted sentiment in domestic equity markets and supported the rupee, prompting investors to move away from precious metals. However, firm global trends capped losses in the local markets, as overseas bullion prices advanced on easing concerns over energy-driven inflation, they added. In the global markets, spot gold and silver were traded nearly 1 per cent higher at $4,344.36 and 70.43 per ounce, respectively. “Spot gold continues to benefit on lower oil prices that have sunk to fresh cycle low on Tuesday as the US Vice President JD Vance signed the US-Iran deal electronically,” Praveen Singh, Head of commodities at Mirae Asset ShareKhan, said.

Gold futures drop on weak demand

Goldprices dropped by Rs 358 to Rs 1,52,558 per 10 grams in futures trade amid a fall in spot demand. Gold contracts for August delivery traded 0.23 per cent lower in 8,822 lots. Analysts attributed the fall in yellow metal prices to weak global cues. Globally, gold futures declined by 0.15 per cent to $4,318.05 per ounce in New York.

Silver futures snap 3-day rally

Snappinga three-day rally, silver futures declined Rs 2,129 to Rs 2.49 lakh per kg, as investors turned cautious amid uncertainties surrounding the proposed US-Iran peace agreement. The white metal for July delivery slumped nearly 1 per cent in 11,023 lots. Analysts said the decline came a day after bullion prices surged on optimism that an agreement between Washington and Tehran could end months of conflict and reopen the Strait of Hormuz, a key artery for global energy trade.

Crude oil futures fall amid weak global trends

Crudeoil price fell by Rs 8 to Rs 7,514 per barrel in the futures trade on Tuesday amid weak global trends. Crude oil futures for the July delivery slipped 0.11 per cent in 1,978 lots. Analysts said the prices fell after participants offloaded their holdings amid weak demand in the spot market. Globally, West Texas Intermediate crude oil was trading 0.37 per cent lower at $80.45 per barrel, while Brent Crude fell 0.60 per cent to $82.67 per barrel in New York.