Gold prices hit a low of 5130$/oz but recovered and approaching 5200$/oz

MUMBAI, 27 FEBRUARY: Bullions came under pressure as US and Iran entered another round of talks in Geneva but prices began recovering losses as reports suggests that the US has put forth very tough conditions to Iran which they said was unacceptable. Talks were halted after Washington’s insistence on “zero enrichment” and the transfer of all uranium enriched to 60% to the United States, an Iranian diplomatic source told Iran International. Iranian official said that Teheran has rejected any proposal involving permanent suspension of enrichment, dismantling of nuclear facilities, or transfer of its uranium stockpiles abroad. The US meanwhile, deployed additional jets, warships, and aircraft carriers across the Middle East, signaling readiness for military action if diplomacy fails.

In terms of market action, Gold prices hit a low of 5130$/oz but have since then recovered and prices are now approaching 5200$/oz. Silver prices are also trading around 90$/oz. Finally, Oil prices hit a low of 63.60 but the counter saw a sharp recovery after talks were halted. Markets will continue to take cues from the talks and any indication that talks have completely failed will lead to further rally in Bullions and Oil.

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(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)