Gold rate today: Gold prices again cross the mark of Rs 1 lakh on rising Israel-Iran stresses; Where is yellow metal?
Gold Rate Today: Gold August futures on MCX rose by Rs 2,011 or 2.04% more, on Friday overtaken Rs 1 lakh to reach Rs 1,00,403 per 10 grams, which was motivated by safe-heaven purchases due to Israel-Iran conflicts and a weak dollar index.Silver July Futures demonstrated a positive movement, starting trading at Rs 1,06,695 per kg, depicting an increase of Rs 810 or 0.76%.The previous day was positive for both precious metals in domestic and international markets. Gold August futures ended at Rs 98,392 per 10 grams with a gain of 1.75%, while the July futures of silver increased by Rs 1,05,885 per kg to 0.47%.
Why are the prices of gold and silver rising?
Gold and silver prices increased further as the Middle East tension between Israel and Iran. International gold prices exceeded $ 3,400 per troy ounces due to safe haven demand. According to the ET report, Indian gold futures achieved an unprecedented milestone, which was more than 10 grams per 10 grams per 10 grams.The declining dollar index supported the price of precious metal. The US dollar is showing a decrease of 0.31 or 0.32%on the index, DXY, 98.23.The intensive position in the Middle East has raised apprehensions about possible obstacles in global oil distribution, especially important routes such as the Straight of Hormuz.Also check this. Gold Price Prediction Today: What is the gold rate outlook for June 13, 2025 after attacking Israel – should you buy or sell?The Israeli administration verified in the early hours of Friday that it carried out air strikes on Iran, which had exploded in Tehran. These military functions were held as part of Israel’s systematic operation to weaken Iran’s nuclear facilities and missile development programs.The United States manufacturer price index and core PPI figures are reported on Thursday, which suggests a decrease in inflation rates in the US, possibly allowing the Federal Reserve to consider the reduction in interest rate. Additionally, US unemployment claims increased to 248,000, which positively affects the valuable metal evaluation.“6-week height in gold prices and prices above $ 3,400 can show further strength in the upcoming session,” said Manoj Kumar Jain of Prithvifinmart Commodity Research.He said, “We hope that gold and silver prices will remain unstable in today’s session amidst dollar index and instability in geopolitical stress; Gold prices can hold their major support levels of $ 3,330 per troy ounces and silver prices can also be $ 35.00 at a troy ounce level based on a weekly closing,” he said.Renisha Chanani, head of research at Ogamont, said that “unless there is a sudden change in global risk feeling or aggressive monetary tightness, gold will probably remain firm, possibly moving to Rs 1,05,000 in the medium period.”According to Manav Modi, senior analyst of Motelle Oswal Financial Services, Gold has demonstrated a significant increase by increasing more than 30% since the beginning of the year, despite the remarkable price variations.Also read Gold vs. Silver: Why Silver may soon be better than gold; Precious metal prices rise, record-breaking rally is likelyPrice ups and downs are responsible for many factors, including President Trump’s tariff modifications, international political stress and economic development concerns worldwide. Despite the adjustment to the US-China tariff, continuously continues to promote gold evaluation to reduce market uncertainty and US economic indicators.In his long-term evaluation, Modi identifies a sufficient support level between advocates of purchasing during a decline in Rs 88,000-90,000 per 10 grams and the price falls. Their forecast shows that gold prices in the next 12–15 months can rise to Rs 1,00,000–1,06,000, provided that the significant support level is stable.
