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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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Silver and platinum also strengthen after Israel's strike on Iran
Gold breaches Rs 1 lakh mark on MCX to hit all-time high, on Israel attack on Iran and weaker rupee - The Tribune
Gold prices in India breached the Rs 1 lakh per 10-gram mark to reach at an all-time high level on Friday, boosted by the weakness in the domestic currency, and rising safe-haven demand as Israel launched an airstrike on Iran.
·Chandigarh, India
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MCX gold prices breach key Rs 1 lakh level to hit record high amid Middle East tensions
Gold prices today: Gold's August contracts hit a fresh lifetime high of Rs 1,00,403 per 10 grams, while the contracts with October expiry hit an all time high of Rs 1,01,295 per 10 grams on the MCX.
·India
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Total News Sources45
Leaning Left1Leaning Right6Center2Last UpdatedBias Distribution67% Right
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- 67% of the sources lean Right
67% Right
11%
C 22%
R 67%
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