New Delhi, Aug. 3 -- The price of the yellow metal in India's retail market rose on Monday, 3 August, after US President Donald Trump called off planned strikes on Iran, amid hopes of fresh talks between the US and Iran.

Trump on Sunday said negotiations with Iran will begin today after he held off on new strikes against Iran, once again raising hopes for a diplomatic resolution to the conflict that has upended energy supplies, as per a report by CNBC US.

"Now, what we're doing is we're talking to them in the form of a negotiation. It begins tomorrow afternoon," Trump told reporters Sunday aboard Air Force One, without disclosing the venue or participants.

This led to oil prices falling in early Asian trading today as investors pared g...