Gold Price Today: Did the price of gold increase or decrease today, know what is the price of gold amid the war between Israel and Iran?

Gold Price Today: Today, gold price on MCX increased by 3.15% to Rs 1.67 lakh amid the fight between US-Israel and Iran. Domestic futures price of gold opened at Rs 1,67,217 per 10 grams of 24-carat purity, rising by about 3.15 percent in the MCX session. In the early hours on Comex, the spot price of gold was trading 1.86 percent higher at $5,345.50 an ounce and silver was trading 0.81 percent higher at $94.045 an ounce. As geopolitical developments continue, the volatility is likely to remain high as safe-haven demand remains active. Meanwhile, the rupee was trading strongly at 91.24 against the US dollar in early trade on Monday.

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Why are gold prices increasing?

US and Israeli forces launched a simultaneous attack on Iran on Friday. In response to which missile and drone attacks were carried out on the US base. In which the Supreme Leader of Iran as well as top Iranian leaders were killed, due to which the tension has increased further. According to analysts, soon gold can reach Rs 1.70 lakh per 10 grams and silver can reach Rs 3 lakh per kg. Crude oil prices have also surged amid concerns of supply disruptions in the Strait of Hormuz, strengthening risk-off sentiment and increasing demand for bullion.
Jatin Trivedi, VP Research Analyst (Commodity and Currency) at LKP Securities, an online brokerage, said, “If there are signs of diplomatic development or de-escalation, profit-taking could be seen in the precious metals after an initial rise of 3-6 per cent.”

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gold price last day

On Friday, an increase of Rs 1,800 was recorded in the price of gold in the bullion market of Delhi. Whereas gold of 99.9 percent purity reached Rs 1,64,700 per 10 grams. Whereas on Thursday the same price was Rs 1,62,900 per 10 grams.

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