Gold becomes hot due to tension between Iran and Israel

Gold-Silver Price Today: Amidst the fear of war between Iran and Israel, a rally is being seen in the price of the US dollar. Whereas, due to the price of crude oil being more than 90 dollars per barrel, there has been an impact on the sentiments of investors. Meanwhile, there is a rise in the price of gold. Gold rose with the opening of MCX in the morning. At 10 am, the price of gold to be delivered on June 5 rose by Rs 118 to Rs 71,961. Whereas, the price of gold to be delivered on August 5 reached the level of Rs 72,315.

What is the price in your city?

Amid the rise in gold prices, today the price of ten grams of 24 carat gold in Mumbai is Rs 72,540, equal to the gold prices in Kolkata and Hyderabad. Whereas, the price of ten grams of 24 carat gold in Delhi is Rs 72,690, in Bengaluru it is Rs 72,540 and in Chennai it is Rs 74,790. At the same time, the price of ten grams of 22 carat gold in Mumbai is Rs 66,490, equal to Kolkata and Hyderabad. Today the price of ten grams of 22 carat gold is Rs 66,640 in Delhi, Rs 66,490 in Bengaluru and Rs 68,560 in Chennai. Whereas, the price of one kilogram of silver in Delhi, Mumbai and Kolkata is Rs 85,400 and in Chennai it is Rs 88,900.

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What is the reason for the rise in gold?

Amidst geo-political tension, gold is a safe investment for the whole world. Tension is increasing between Iran and Israel in the Middle East. The situation of war between Russia and Ukraine has also become serious. America’s inflation data has turned expectations of cheap interest rates into disappointment. A sharp rise in the prices of gold and silver has also been seen in the American market. By 0056 GMT, spot gold was up 0.3 percent at $2,350.59 an ounce. On Friday, bullion reached an all-time high of 2,431.29. Spot silver rose 0.4 percent to $27.98 an ounce, platinum fell 0.1 percent to $973.05 and palladium fell 1 percent to $1,038.99.