Strong rise in gold prices, gold futures jump by Rs 1900, know the rate of bullion market
Gold Price: There has been a sharp rise in gold prices on MCX. After this, due to increasing tension between Israel and Iran in the Middle East, gold prices are seeing a rise. August gold futures on MCX have risen by Rs 1900 and opened with 1.93%.
Due to escalating military conflict between Israel and Iran, there has been a significant increase in gold prices. August gold futures on MCX have risen by Rs 1,900 and opened with a 1.93% gain. Gold prices also rose yesterday amid concerns about this conflict.
Israel bombed Iran's capital, Tehran, on Friday morning, heightening tensions in the Middle East. Israel issued a statement confirming that it attacked Iran, while Iran has warned Israel to face the repercussions.
With the sharp rise in gold prices on MCX, gold prices may also experience a notable increase in the bullion market. However, the rates for the bullion market will be updated on the IBJA website at noon.
An increase in gold prices has been anticipated since June 12, when the possibility of interest rate cuts rose following lower-than-expected inflation figures in the U.S. In addition, gold prices were also climbing due to escalating geopolitical tensions in the Middle East.
