New Delhi, May 7 -- Gold and silver prices today on 7 May: Gold prices rose on the MCX on Thursday morning as investors awaited further clarity on the potential US-Iran peace deal. Nations across the globe are eagerly awaiting the resolution of the ongoing war.

Stronger US private payrolls data further dimmed the prospects of near-term US Fed rate cuts, limiting the gains for the yellow metal.

MCX gold June futures were up 0.35% at Rs.1,52,660 per 10 grams around 9:25 am, while MCX silver July futures were up 0.90% at Rs.2,55,545 per kg at that time.

Prospects of a peace deal between the US and Iran that could lead to the reopening of the Strait of Hormuz, a critical waterway for global oil trade, are seen as a big relief by gold trade...