Global Uncertainty Boosts Gold and Silver Prices in India Amid US-Iran Conflict
The global uncertainty over the US-Iran conflict has led to fluctuations in gold and silver prices worldwide. In India, both precious metals have seen a marginal increase in their retail rates across major cities.
According to market updates, spot gold rose by 0.4% to $4,372.19 per ounce due to the ongoing uncertainty surrounding the US-Iran conflict. The price of Brent crude has risen to near $100 a barrel as the two sides exchange strikes along one of the world's most critical oil corridors.
In India, gold prices have seen a marginal increase in their retail rates across major cities, including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai. The 24-karat gold rate in these cities ranges from ₹152,500 to ₹153,210 per 10 grams, while the 22-karat gold rate ranges from ₹139,792 to ₹140,443 per 10 grams.
The MCX gold rate on September 9 was trading 0.05% lower at ₹153,070 per 10 grams, while the MCX silver futures were trading about 0.10% higher at ₹239,380 per kg.