Gold Prices Tick Up Amid US-Iran Tensions, but Remain Volatile

Gold and silver prices experienced minor fluctuations on September 22 amid escalating US-Iran tensions. Spot gold inched up marginally, hovering just above $4,350 per ounce, while US gold futures traded with a slight increase to $4,385.40 per ounce. Domestic spot gold closed the session at Rs 1,52,620 per 10 grams, and silver remained steady at Rs 2,35,054 per kilogram.

Jateen Trivedi, Vice President of Research Analysis at LKP Securities, expects gold to remain range-bound but volatile due to limited major US economic data. He estimates that the $4,250 level remains a strong technical support for gold, with prices expected to trade in the $4,250-$4,450 range on COMEX and Rs 1,51,000-Rs 1,56,000 on MCX.