Gold witnesses strong recovery on MCX, jumps over 1.5 lakh per 10 grams, silver too shines | City-wise rates

Rates of precious metals in futures witnessed a strong recovery after US President Donald Trump signalled a diplomatic breakthrough with Iran and called off planned military strikes. The gold August 5 contract on the Multi Commodity Exchange (MCX) opened with a gain of Rs 1,663 or 1.11 per cent at Rs 1,50,595 per 10 grams against the previous close of Rs 1,48,932. It jumped further to touch an intraday high of Rs 1,50,600, a gain of Rs 1,668, or 1.11 per cent. Last seen, it was trading at Rs 1,49,705, down Rs 773, or 0.52 per cent.