Commodities
Gold Prices Rise Amid US-Iran Conflict Uncertainty
The price of gold in India's retail market rose on September 22 amid ongoing uncertainty over the US-Iran conflict. US Treasury Secretary Scott Bessent declared that all Iranian airlines would be 'shut down' from Wednesday, citing sanctions and pressure on Iran.
In international markets, gold prices struggled to gain momentum due to expectations of interest rates staying higher for longer. Spot gold was little changed at $4,344.29 per ounce, while US gold futures steadied at $4,381.80.
The rising uncertainty led to a marginal increase in both 24-karat and 22-karat gold rates across major cities in India. Silver prices also increased in the domestic bullion market.