Gold Prices Rise Amid Geopolitical Stress
Gold rates recoiled today, driven by safe-haven demand in the middle of rising US-Iran stress and issues over worldwide inflation. Profit-booking had at first tempered gains, yet worth buying pushed costs higher.
- COMEX: Rose to an intraday high of $ 5, 200 per troy ounce.
- MCX: Opened up at 1, 63, 265 per 10 gm, reaching 1, 63, 800
- Analysis: Professionals mention the US-Iran battle and possible interruptions in the Strait of Hormuz as essential aspects.
- Outlook: Analysts anticipate continued volatility, with possibility for further gains if geopolitical tensions continue.
