Gold Soars to Five-Month High as US-Iran Tensions Boost Safe-Haven Demand

Gold prices in Delhi reached a five-month high on Monday, climbing to Rs 1.64 lakh per 10 grams amidst firm global cues and renewed demand due to US-Iran tensions.

The yellow metal of 99.9% purity appreciated by Rs 900 from Friday's closing level of Rs 1,63,500 per 10 grams, according to the All India Sarafa Association.

This is its highest value since March 9 when it stood at Rs 1,64,300 per 10 grams.

Silver also surged for the third consecutive session, increasing by Rs 3,500 to a four-month high of Rs 2,53,500 per kilogram, inclusive of all taxes.

Analysts believe that the next move in bullion may be less dependent on geopolitics and more influenced by inflation expectations.