Gold Rate Today: Amid rising tension in the Israel-Iran war, gold prices today witnessed some value buying in the early morning deals. In the early morning session on Friday, the yellow metal remains a safe haven for investors amid rising tension in the Middle East due to the Iran-Israel war. On the Multi Commodity Exchange (MCX), the gold futures contract for December 2024 expiry opened with an upside gap at ₹76,302 per 10 gm and touched an intraday high of ₹76,444 mark within a few minutes of the commodity market opening.
According to commodity market experts, the gold price today is expected to maintain its uptrend as the Middle East tension has put doubts into investors’ minds. So, in the wake of uncertainties caused by the Israel-Iran war, they advised investors to maintain a ‘buy-on-dips’ strategy in gold and silver. They said that the MCX gold rate is in the ₹75,800 to ₹76,700 range, whereas the spot gold price is in the $2,640 to $2,700 per troy ounce range.
Iran-Israel war in focus
“Geopolitical tensions, particularly concerning Israel and Iran, are supporting gold prices, and unless these risks subside, prices are likely to remain near record levels,”.
“Gold price today is in uptrend as gold and silver are considered safe haven during an uncertainty. Amid buzz about the US discussing strikes on Iran in retaliation to Tehran’s air strikes in Israel, the geopolitical tension in the Middle East has further escalated. However, gold investors should also monitor the US payroll data. Any disappointing news in the US data may fuel the yellow metal prices, and it may touch $2,700 per troy ounce any time.”
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of GoldSilverReports.com. We advise investors to check with certified experts before taking any investment decisions.
