Crude Oil prices dip after Iran-US Peace deal announcement, Gold-Silver surge
International crude oil prices saw a decline following the announcement of a peace agreement between Iran and the US. Brent Crude Futures slumped almost 5% in early Asian trade.
 
Unrefined crude oil prices in the global market fell, with per barrel rates dropping to $84. Lower crude prices are expected to bring some relief on fuel and inflation fronts.
 
Meanwhile, Gold and silver prices witnessed a sharp rise in the domestic market. 24-carat gold crossed the ₹1.5 lakh mark. The price of 10 grams of 24-carat gold increased to ₹1,51,000. Silver also surged, with 1 kg touching ₹2,80,000.
 
The big drop in crude prices came about after the United States and Iran reached an initial agreement to open the Strait of Hormuz and further extend ceasefire.

By Nirvay

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