Gold Prices Soar Nearly 2% Weekly Amidst Global Tensions

Gold prices in India have shown a marked increase, with the Multi Commodity Exchange (MCX) gold settling at Rs 1,52,690 per 10 grams. This represents a significant weekly gain of approximately 2 percent from the previous week's closing price of Rs 1,49,650 per 10 grams. The current upward movement is underpinned by consistent retail demand and supportive global market cues.

Heightened global uncertainty, particularly stemming from the breakdown of US-Iran talks, has intensified regional tensions and contributed to gold's appeal as a safe-haven asset. Daily price increments were observed across different gold purity levels. In the 24K segment, prices for 1, 8, 10, and 100 grams all saw increases. Similarly, 22K gold prices also followed this positive trend, with corresponding rises in value per gram and for larger quantities.