Gold rebounds after two-day fall; silver jumps Rs 4,000/kg on progress in US-Iran peace talks. Should you buy?

Gold futures on MCX for August 2026 delivery rose by Rs 784 to Rs 1,47,987 per 10 grams, rebounding after a two-day fall. Internationally, spot gold gained 0.9% to $4,197.41 per ounce and spot silver rose 1.8% to $66.10 per ounce, supported by progress in US-Iran peace talks. However, concerns remain as the CME FedWatch Tool now shows an 89% probability of a US rate hike in December, up from 61% earlier, which could pressure precious metals in a higher interest rate environment.