Gold firms on Middle East tensions
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Gold prices stabilized in Asian markets on Tuesday, following a pullback triggered by mixed signals around the Israel-Iran conflict and U.S. involvement. Spot gold edged up 0.2% to $3,392.25 per ounce,
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Tensions between the U.S. and Iran have been rising, but the big moves in gold and oil prices can help gauge just how serious the situation has become — and hint at what’s next for global financial markets.
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Gold prices on the Multi Commodity Exchange (MCX) have surged amid rising tensions in the Middle East, with analysts warning that any further escalation could push rates to ₹1.02–1.05 lakh per 10 grams.
Spot Gold peaked at $3,452.41 at the weekly opening, retreating towards the current $3,400 price zone throughout the day. The bright metal benefited from weekend headlines spurring risk aversion amid an escalating conflict between Israel and Iran. Middle East tensions continue, but the mood somehow improved, weighing on the bright metal.
Platinum fell by the most in more than three years as market tightness began to ease and conflict in the Middle East prompted global investors to reduce risk.