New Delhi, Apr 15: Gold prices witnessed a notable rise on the Multi Commodity Exchange (MCX) on Monday, aligning with the global market trend for the precious metal. The surge comes amidst heightened geopolitical tensions in the Middle East region, triggered by Iran’s recent drone and missile attack on Israel.
At 11:30 a.m., gold futures maturing on June 5, 2024, stood at Rs 72,302 per 10 grams on the MCX, marking an increase of Rs 541 from Friday’s closing price of Rs 71,843. In the international market, spot gold price is trading around $2,360 per troy ounce, approximately 0.70 per cent higher than its Friday close.
The surge in gold prices can be attributed to the safe-haven demand from investors amid the uncertainty caused by escalating geopolitical tensions. Additionally, central banks of various countries have been acquiring significant quantities of the precious metal.
Over the past two months, gold prices in India have surged by approximately 17 per cent, rising from around Rs 62,000 per 10 grams to levels around Rs 72,700.
In Delhi, the price of 24-carat gold on Monday was approximately Rs 72,690 per 10 grams, while in Mumbai it hovered around Rs 72,540. Chennai recorded the highest gold price at Rs 74,790 per 10 grams, while in Kolkata and Bengaluru, it was around Rs 72,540.
