Gold Prices Rise Amid Iran-US Tensions

Gold prices rose on August 26 amid tensions between Iran and the US. The precious metal opened higher in domestic futures trading, while retail and bullion-market rates also increased.

The Multi Commodity Exchange (MCX) saw a gain of Rs 28, or 0.02 per cent, to reach Rs 1,62,910 per 10 grams for 24-carat gold during early trade. In contrast, the previous session had ended at Rs 1,62,882 per 10 grams.

Internationally, gold was trading at $4,698.90 per ounce, and bullion rates showed a higher price for 24-carat gold at Rs 1,63,310 per 10 grams. The price of 99.9 per cent pure gold in Delhi's bullion market had risen to Rs 1,67,100 per 10 grams on Tuesday.

Market experts attributed the decline in domestic gold futures to subdued demand in the spot market. The contrasting movements across physical, futures and international markets highlight the volatility currently being witnessed in gold prices.