Gold price rose on the Multi Commodity Exchange (MCX) today tracking the global market for the precious metal which firmed up amid the worsening geopolitical crisis in the Middle East region following Iran’s drone and missile attack on Israel. 

Gold futures, maturing on June 5, 2024, stood at ₹72,302 per 10 grams on the MCX at 11:30 a.m., an increase of ₹541 over Friday’s close of ₹71,843.

In the international market, spot gold price is trading around $2,360 per troy ounce, which is around 0.70% higher from its Apr 12 close.

Gold prices have been driven up by the safe haven demand by investors in the wake of uncertainty caused by rising geopolitical tensions. Central banks of various countries have also been buying the precious metal in large quantities.

Gold prices have now risen by around 17% in India over the last two months from around ₹62,000 per 10 grams range to levels around ₹72,700.

The price of 24-carat gold in Delhi today was around ₹72,690 per 10 grams while in Mumbai it was hovering around ₹72,540. The gold price was the highest in Chennai at ₹74,790 per 10 grams while in Kolkata and Bengaluru it was hovering around ₹72,540.

(Source: IANS)

-Edited for style

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