Gold Prices Rise Again Amid Global Tensions
Gold and silver prices have risen again in global and domestic markets due to increasing geopolitical tensions involving the United States, Israel and Iran. Investors are turning to gold, traditionally considered a safe-haven asset, leading to a sudden surge in demand.
In the MCX market, gold prices increased by Rs.1,302, taking the price of 10 grams to Rs.1,60,975. Silver prices also surged sharply by Rs.5,631 per kg, reaching Rs.2,67,822 per kg. In international markets, gold rose 1.16% to $5,137.70 per ounce on the COMEX exchange, while silver gained 2.27% to $84.05 per ounce, indicating strong global demand.
However, the market saw a sharp fall just a day earlier. According to the Indian Gold Jewellers Association (IBJA), the price of 24-carat gold dropped by Rs.1,962 to Rs.1,60,586 per 10 grams on Thursday, while silver fell by Rs.7,135 per kg.
Meanwhile, in Tamil Nadu, the price of 22-carat gold is Rs.14,960 per gram and Rs.1,19,680 per sovereign (8 grams). Pure gold is priced at Rs.16,320 per gram, while silver is sold at Rs.290 per gram and Rs.2,90,000 per kg. Experts say the current volatility is mainly due to global tensions, leaving investors uncertain about whether prices will continue to rise or stabilize in the coming days.
