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Commodities

Gold and Silver Rates Rebound Amid Crude Oil Price Surge

Guavy AI Editorial Team
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The gold and silver rates in India are showing signs of recovery from recent lows, according to analysts at Enrich Money. The COMEX gold rate today is trading near $4,462/oz, approaching a crucial technical zone, while the MCX gold rate today is around ₹1,54,500 per 10 gm.

The US-Iran tension has escalated after reports that the US targeted a vessel in the Gulf of Oman over an alleged breach of the Iran blockade. This geopolitical risk premium is contributing to higher crude oil prices, which are currently at $84/barrel for WTI crude oil.

Analysts advise investors to remain vigilant about the upcoming US inflation data, as any rise in inflation could push gold and silver prices higher.

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