Gold Price Today: MCX Gold Rate Jumps Above ₹1 Lakh per 10 Grams on Israel-Iran Conflict; Crude Oil Prices up 6%
- On Friday, MCX gold prices surged past ₹1 lakh per 10 grams in India amid escalating Israel-Iran conflict increasing safe-haven demand for gold.
- The rise followed Israel's targeted airstrikes on Iran's nuclear and military sites, which heightened geopolitical tensions in the Middle East.
- Gold futures on MCX opened higher by ₹1,108 at ₹99,500 and spiked to ₹100,403, while silver prices also gained, reflecting increased global bullion prices.
- US gold futures rose 1.4% to $3,449.60 and spot gold hit $3,428.28 an ounce, with experts like Jigar Trivedi expecting further gains amid rising risk-off sentiment.
- The surge implies strong safe-haven buying amid Middle East instability and a weakening rupee, suggesting continued upward pressure on precious metal prices.
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92 Articles
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Gold prices retreated modestly over the weekend, ending a multi-day rally that had pushed the metal close to its two-month highs. Official TradingView daily and four-hour charts published June 16, 2025, confirm the pullback. The spot price dropped from an intraday high of $3,451 to $3,418 per ounce by early Monday. This move reflects a […]
Gold hits near 2-month high as Middle East conflict boosts safe-haven demand
KUALA LUMPUR: Gold rose for a fourth straight session to a near two-month high on Monday, as intensified clashes between Israel and Iran over the weekend stoked fears of a broader regional conflict, pushing investors towards safe-haven assets. © New Straits Times Press (M) Bhd
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