Gold Prices Tick Up Amid US-Iran Tensions, But Indian Futures Fall
Global gold prices edged higher on Tuesday amid tensions between the US and Iran and a stronger dollar. However, Indian domestic gold and silver futures declined due to profit booking.
Spot gold was trading at $4,350 per ounce, up 0.14%, while US gold futures were up 0.03% at $4,385.40 per ounce. The movement came amid heightened US-Iran tensions and a stronger dollar.
In the domestic market, spot gold closed at Rs 1,52,620 per 10 grams, while silver remained at Rs 2,35,054 per kilogram. Analysts predict that gold will remain volatile but within a specific range, supported by weaker crude oil prices.
Jateen Trivedi, VP Research Analyst at LKP Securities, said, 'Gold prices remained under mild profit booking as the Dollar Index moved above 100, keeping some pressure on bullion. However, weaker crude prices continue to support gold sentiment.'