13-Jun-2025      15:12

Gold nears record highs on amid geopolitical turmoil

Gold prices soared more than 1% to trade above $3460 on Friday, inching closer to record levels as investors rushed to safety after Israel launched a preemptive strike on Iran's nuclear sites. Heightened fears of a wider Middle East conflict pushed safe-haven buying across global markets, lifting bullion sharply. Prime Minister Netanyahu confirmed that Iran retains the capability to retaliate, keeping markets on edge. The geopolitical stress revived demand for the dollar too, lifting the dollar index back toward 98 from multi-year lows. Adding further fuel to gold's rise, weaker-than-expected US consumer and producer inflation figures this week strengthened bets for more Fed rate cuts. Reflecting the global uptrend, MCX bullion futures spiked nearly ₹2000, hitting a session high of ₹100403 per 10 grams.

Powered by Capital Market - Live News

News source: Capital Market - Live News