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Commodities

Gold Prices Surge 1.31% Amid US-Iran Conflict and Soaring Crude Oil

Guavy AI Editorial Team
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The US-Iran conflict has sent shockwaves through global markets, leading to a surge in gold prices by 1.31% on a weekly basis.

As tensions between the two nations escalated, investors flocked to safe-haven assets such as gold and silver, causing their prices to rise.

The price of 10 grams of 24-carat gold reached Rs 43,781 on Friday from Rs 41,915 seen on Monday market opening, according to data published by the India Bullion and Jewellers Association (IBJA).

Brent crude oil prices surged nearly 9.8% during the week, briefly crossing the $100 a barrel mark, which further fueled the rally in gold prices.

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