Gold Prices Surge Amid US-Iran Tensions on MCX Exchange

Gold prices rose on the MCX exchange in India on October 1, amidst fresh tensions between the US and Iran. The increase was a result of reports emerging that the two nations held indirect talks last week.

The price of gold futures increased by 0.67% to Rs. 1,47,090 per 10 grams, while September silver futures advanced 0.98% to Rs. 2,25,891. Meanwhile, Brent crude futures fell 1.22% to USD 96.83 per barrel.

The US West Texas Intermediate (WTI) edged down by 1.40% to USD 89.15 per barrel. Domestic gold prices also saw an increase, with 24K gold rising by Rs. 33 to Rs. 1,49,240 per 10 grams and 22K advancing by Rs. 30 to Rs. 1,36,800.