Gold Prices Surge Amid Escalating US-Iran Tensions

Gold prices in India rose by nearly 0.24% on October 1, amid reports of fresh tensions between the US and Iran. The MCX Gold 5 November futures stood at ₹148,288 per 10 grams, while MCX Silver 4 December contracts were up 0.9% at ₹225,730 per kg.

The increase in gold prices is attributed to the escalating conflict between the two countries, despite their first known indirect talks last week since a previous ceasefire collapsed in July. US President Donald Trump said that Washington faced a choice between further military action against Iran and reaching a deal with Tehran.

Meanwhile, gold prices in major Indian cities saw the following changes: 24-karat gold was priced at ₹149,590/10 grams, while 22-karat gold was priced at ₹137,124/10 grams. Silver prices today are at ₹225,920/kg (Silver 999 Fine), according to the Indian Bullion Association's data.