Gold Prices Soar Amid US-Iran Conflict Uncertainty

The price of gold in India's retail market rose on August 25 amid ongoing uncertainty over the US-Iran conflict. Gold prices in international markets increased to their highest level in over three months, supported by a weaker US dollar and the US Treasury's bond buyback plans.

According to United Overseas Bank (UOB), gold is on track for its strongest monthly gain since September 1999. Spot gold gained 0.6% to $4,677.19 per ounce, with prices rising over 15% so far this month.

In India, both 24-karat and 22-karat gold rates showed a marginal increase across major cities. However, silver prices declined in the domestic bullion market. The MCX gold rate on August 25 was trading 0.09% higher at ₹163,640 per 10 grams.