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Gold Prices Fluctuate Amidst Geopolitical Tensions
11 May
Summary
- Gold prices showed fluctuation on May 10 due to geopolitical tensions.
- MCX gold futures gained 0.04% and silver futures surged 1.34%.
- International markets saw gold prices climb approximately $50 per troy ounce.
Gold prices continued to fluctuate on May 10, with global markets reacting to ongoing geopolitical events, including the US war against Iran. On the MCX, gold futures for June delivery gained 0.04%, and silver futures for May delivery surged by 1.34%.
International markets reflected this volatility, with Comex gold climbing approximately $50 to a session high of $4,760 per troy ounce, marking a weekly gain of nearly 1.5%. Market analysts attributed this demand for non-yielding bullion to easing regional tensions and a weaker dollar.
Gold rates in major Indian cities such as New Delhi, Mumbai, Chennai, and Kolkata showed variations for 24K, 22K, and 18K gold. For instance, Chennai reported 24K gold at Rs 15,437 per gram. Silver prices also saw movement, with prices around Rs 275 per gram in India.
