Commodities
Gold Prices Surge Amid Military Tensions and Weakening Dollar
The price of gold in India's retail market rose on Tuesday amid military tensions in West Asia. The value of 24-karat gold increased by ₹790, or 0.52%, to trade at ₹154,080 per 10 grams.
This rise comes as benchmark Brent crude is heading towards $100 a barrel and there are renewed clashes between the US and Iran, which could disrupt energy flows via the Strait of Hormuz.
In international markets, gold prices also edged higher after falling in the previous two sessions. Spot gold rose 0.7% to trade around $4,435 an ounce as the dollar weakened, making greenback-priced metal more affordable for other currency holders.