India Gold Price Drops Amid Ongoing Middle East Tensions
The gold price in India has decreased slightly, with 24 carat gold currently priced at ₹15,497 per gram. This is a decrease of ₹92 from the previous day's price. The prices for 22 carat and 18 carat gold have also dropped, to ₹14,205 and ₹11,623 per gram respectively.
Despite the decline in prices, tensions in the Middle East continue to affect the global precious metal market. The ongoing conflict between Iran and the US has led to a surge in oil prices, with Brent crude hovering around $91.22 per barrel and US crude near $85.
Russian officials have claimed that Israel is intentionally escalating tensions in the region to provoke direct military involvement from the US and NATO. This has contributed to ongoing instability in energy sectors, prompting investors to seek refuge in gold as a dependable asset amid international strife.