India Gold Prices Surge 1% on Weaker Dollar Amid Easing Geopolitical Tensions

Gold and silver prices in India surged up to 1% on Monday as investors sought refuge in bullion due to a weaker US dollar. The dollar's decline, which came after the suspension of hostilities between the United States and Iran, eased inflation concerns following a sharp decline in crude oil prices.

The Multi Commodity Exchange (MCX) saw gold futures (August) trading at Rs 1,44,173 per 10 grams, up Rs 1,067 or 0.75% from the previous close of Rs 1,43,106. Silver futures (September) also traded higher, rising as much as 1.26% to touch an intraday high of Rs 2,24,955 per kg.

On the international market, spot gold gained about 1% to trade near $4,100 per ounce, while silver rose nearly 1% to around $59 per ounce.