Commodities
Gold Prices Rise Amid Military Tensions, Weakening Dollar
Gold prices in India rose on Tuesday amid renewed military tensions in West Asia. The price of 24-karat gold increased by 0.52% to trade at ₹154,080 per 10 grams. In international markets, spot gold also climbed 0.7% to $4,435 an ounce due to a weakening US dollar.
According to Pepperstone Group head of research Chris Weston, 'Gold remains locked in a battle between buyers and sellers, with neither party showing enough conviction to drive a sustained and persistent directional move.'
In the Indian retail market, 24-karat gold prices rose across major cities, including New Delhi, Mumbai, Bengaluru, Kolkata, Hyderabad, and Chennai. The MCX gold rate on 8 September was trading 0.47% higher at ₹153,538 per 10 grams.