Gold Surges to Three-Month High on Geopolitical Uncertainty

Gold prices have risen to their highest level in over three months due to increased demand for safe-haven assets amidst geopolitical uncertainty. The US's recent measures targeting Iran and concerns over its potential impact on global trade and financial markets have encouraged investors to seek gold.

The US dollar has softened, and expectations surrounding US Treasury bond buybacks have provided support to international gold prices. As a result, spot gold rose around 0.6 per cent to $4,677.19 an ounce in the international market.

In India, retail prices for both 24-karat and 22-karat gold remained relatively firm across major markets, with gold futures trading around 0.09 per cent higher at ₹1,63,640 per 10 grams on the Multi Commodity Exchange. Silver prices, however, witnessed some pressure, down around 0.62 per cent at ₹2,43,730 per kg during morning trade.