New Delhi, April 24 -- Precious metals-gold and silver-were trading lower on Friday, 23 April, as traders awaited clarity on whether Iran would join the second round of peace talks, following Tehran's recent actions in the Strait of Hormuz.

COMEX gold futures dropped $52 per troy ounce to an intraday low of $4,672, while silver futures fell $1.60 to $73.84. The week began with optimism around potential peace in the Middle East, but that sentiment faded as a US-Iran deadlock kept oil prices elevated and inflation concerns in focus.

While gold and silver remained under pressure, hopes emerged that Iran may participate in the peace negotiations. Iran's top diplomat is expected to travel to Pakistan this weekend for talks, two Pakistani off...