Gold Price Update

Following a combination of factors such as the Israel-US-Iran war, elevated US Treasury yields, volatile crude oil prices, a strong US Dollar (USD), and the hawkish stance of the US Federal Reserve and other central banks across the world, gold prices finished the week almost flat. In India, the MCX gold rate finished at ₹1,47,270 per 10 gm, logging a solid recovery of over ₹17,500 per 10 gm after hitting the weekly low of ₹1,29,595 per 10 gm. In the international market, the COMEX gold rate ended above the $4,500 per troy ounce. However, despite ending above $4,500 levels, the precious yellow metal recorded a weekly loss of 1.85%.