Gold Prices Hit Seven-Week High on Easing Geopolitical Tensions

Gold prices have hit a seven-week high, with investors expecting easing geopolitical tensions and softer energy prices to reduce inflation pressures.

The current price of MCX Gold is Rs 1,49,296 per 10 grams, up Rs 803 from the previous day.

Ponmudi R, CEO of Enrich Money, said that gold has witnessed a strong technical breakout and that the next hurdle for gold lies between Rs 1,50,000 and Rs 1,50,700.

The trend suggests that gold remains in a positive phase, but experts caution against rushing into buying at current levels. Those who already hold gold may consider holding on as long as prices stay above Rs 1,49,000.