New Delhi, Aug. 5 -- The price of the yellow metal in India's retail market rose on 5 August amid continued uncertainty and tensions between the United States and Iran, following the US military's claim that the Strait of Hormuz was open to all commercial vessels.

Along with this, US Treasury Secretary Scott Bessent claimed that an Iran deal is close. He indicated there might be a deal to open the Strait of Hormuz as soon as this week.

This development led to oil prices declining, with the benchmark Brent crude falling more than 1% to trade near $78 per barrel. Furthermore, the dollar index declined by about 0.10% to 99.77, making greenback-denominated bullion slightly cheaper for buyers in other currencies.

Due to these factors, both ...