Gold Prices Edge Up Amid US-Iran Tensions and Stronger Dollar
Gold prices rose slightly on Tuesday amid heightened tensions between the US and Iran and a stronger dollar. However, Indian domestic gold and silver futures declined due to profit booking.
Spot gold edged higher in early trading, hovering just above $4,350 per ounce, up 0.14%, while US gold futures were up 0.03% at $4,385.40 per ounce at 02:03 GMT.
The movement came amid a stronger dollar and profit booking. In the domestic market, spot gold had closed at Rs 1,52,620 per 10 grams, while silver remained at Rs 2,35,054 per kilogram.
Gold prices are expected to remain volatile but within a specific range, supported by weaker crude oil prices. Analyst Jateen Trivedi, VP Research Analyst at LKP Securities, said, 'Weaker crude prices continue to support gold sentiment.'