New Delhi, Aug. 28 -- The price of the yellow metal in India's retail market declined on Friday, 28 August, amid ongoing uncertainty over the US-Iran conflict in the Middle East.

Iran has set out its conditions to reopen the Strait of Hormuz, saying that ​ending the wars in the Middle East was among them. Mohsen Rezaei, secretary of Iran's Supreme National Security Council, told Lebanese media outlet Al Manar TV that any understanding on the Strait with the US will include an end to wars and military operations in Lebanon, Gaza and Syria, as per a detailed report by CNBC US.

However, a return to diplomacy does not seem imminent. The Wall Street Journal reported on Thursday that the Trump administration has no interest in going bac...