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Commodities

Gold Falls Amid US-Iran Tensions and Rising Oil Prices

Guavy AI Editorial Team
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Oil Gold
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On September 2, gold prices on the Multi Commodity Exchange (MCX) plummeted by 1.06% to Rs. 1,50,125 per 10 grams due to weak global trends and renewed tensions between the US and Iran. This added to inflation concerns.

Brent crude futures rose 0.85% to USD 95.45 per barrel, while US West Texas Intermediate (WTI) edged higher by 0.53% to USD 90.70 per barrel.

US gold prices also fell on Wednesday, reaching its lowest in more than three weeks due to the escalating Middle East tensions that lifted oil prices and stoked inflation and rate-hike fears. Spot gold was down 0.6% at USD 4,304.01 per ounce.

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