New Delhi, Aug. 4 -- Rates of gold and silver jumped up to 1% in early deals on the MCX on Tuesday, 4 August, supported by hopes of a potential US-Iran peace deal.

MCX gold October contracts were 0.50% up at Rs.1,43,607 per 10 grams, while MCX silver September futures were 1.11% up at Rs.2,19,150 per kg around 9:05 AM.

International gold prices also rose amid mixed signals on potential U.S.-Iran talks. The US President Donald Trump on 2 August said talks with Iran would take place on Monday, which Iran later denied, saying there were currently no negotiations with the United States, but talks with Oman over the management of the strategic Strait of Hormuz.

Trump on Monday slammed the Iranian leadership, stating that Tehran officials as...