Gold firms on Middle East tensions
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The precious metal is forecast to hit US$3,400 an ounce by the end of 2025. Read more at straitstimes.com. Read more at straitstimes.com.
Geopolitical uncertainties in the middle-middle-east have pushed gold over the ₹1 lakh per 10 grams mark. Check gold and silver rates in your city today — Chennai, Kolkata, Bengaluru, Hyderabad, Delhi and Mumbai.
Gold prices in India have soared to record levels, surpassing ₹1 lakh per 10 grams with a 28% rise in just one year. This surge is driven by escalating geopolitical tensions in the Middle East, inflation worries, and central bank purchases but these very factors also make this a risky time to buy.
UK markets have struggled today as global assets have sold-off amid concerns about conflict in the Middle East. The FTSE 100, while dragged lower by airlines and miners, fared better than other European indices thanks to a lift from oil producers BP and Shell as the price of the asset spiked on the tension.
Stocks rose and oil prices retreated Monday as fears of a wider Middle East conflict eased even as Israel and Iran pounded each other with missiles for a fourth day.