Gold Prices Surge Amid Geopolitical Tensions
Gold prices rebounded today, driven by safe-haven demand amidst escalating US-Iran tensions and concerns over global inflation. Profit-booking had initially tempered gains, but value buying pushed prices higher.
- COMEX: Rose to an intraday high of $5,200 per troy ounce.
- MCX: Opened at ₹1,63,265 per 10 gm, reaching ₹1,63,800.
- Analysis: Experts cite the US-Iran war and potential disruptions in the Strait of Hormuz as key factors.
- Outlook: Analysts predict continued volatility, with potential for further gains if geopolitical tensions persist.
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