New Delhi, Aug. 11 -- The price of the yellow metal in India's retail market rose on Tuesday, 11 August, amid the continuous escalation of tension between the US and Iran.

US President Donald Trump on Monday said that the US Navy had swept the Strait of Hormuz clear of mines and now holds "100%" control of the waterway, according to CNBC US. Speaking to reporters in the Oval Office, Trump said the US Navy now has full control of the waterway. "It's open now," he said, adding that the US was "the only one that has control of the Strait of Hormuz right now."

The dollar index eased, making greenback-backed bullion cheaper for buyers in other currencies. Crude oil prices traded near $88 per barrel due to continued uncertainty over a potenti...