Gold rate at present: Gold prices cross Rs 1 lakh mark again on rising Israel-Iran tensions; where is yellow metal headed?

Gold and silver prices elevated additional as Middle East tensions between Israel and Iran intensified. (AI picture)

Gold rate at present: Gold August futures on the MCX surged Rs 2,011 or 2.04% increased, surpassing Rs 1 lakh to achieve Rs 1,00,403 per 10 grams on Friday, pushed by safe-haven purchases as a consequence of Israel-Iran conflicts and a weakening greenback index.Silver July futures demonstrated optimistic motion, commencing buying and selling at Rs 1,06,695 per kg, reflecting a rise of Rs 810 or 0.76%.The earlier day witnessed optimistic closures for each treasured metals in home and worldwide markets. Gold August futures concluded at Rs 98,392 per 10 grams with a 1.75% achieve, while silver July futures completed at Rs 1,05,885 per kg, growing by 0.47%.

Why are gold & silver prices rising?

Gold and silver prices elevated additional as Middle East tensions between Israel and Iran intensified. International gold prices exceeded $3,400 per troy ounce as a consequence of safe-haven demand. Indian gold futures achieved an unprecedented milestone, exceeding Rs 1 lakh per 10 grams, in keeping with an ET report.The declining greenback index supported treasured metal prices. The US Dollar Index, DXY, registered at 98.23, exhibiting a lower of 0.31 or 0.32%.The intensifying scenario within the Middle East has raised apprehensions relating to potential interruptions to international oil distribution, significantly affecting essential pathways such because the Strait of Hormuz.Also Check | Gold worth prediction at present: What’s the gold rate outlook for June 13, 2025 after Israel strikes Iran – do you have to purchase or promote?The Israeli administration verified within the early hours of Friday that it carried out aerial assaults on Iran, with detonations famous in Tehran. These army actions have been carried out as a part of Israel’s systematic operations to weaken Iran’s nuclear amenities and missile improvement programmes.The United States Producer Price Index and Core PPI figures disclosed on Thursday counsel reducing inflation charges within the US, probably permitting the Federal Reserve to contemplate curiosity rate reductions. Additionally, US unemployment claims elevated to 248,000, which positively influenced treasured metal valuations.“Gold prices hit 6-week highs and prices sustaining above $3,400 could show further strength in the upcoming session,” stated Manoj Kumar Jain of Prithvifinmart Commodity Research.“We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and geo-political tensions; gold prices could hold its key support level of $3,330 per troy ounce and silver prices could also hold $35.00 per troy ounce levels on a weekly closing basis,” he informed ET.Renisha Chainani, Head of Research at Augmont, acknowledged that “unless there is a sudden shift in global risk sentiment or aggressive monetary tightening, gold will likely remain firm, potentially heading towards Rs 1,05,000 in the medium term.”According to Manav Modi, Senior Analyst at Motilal Oswal Financial Services, gold has demonstrated exceptional progress, surging over 30% for the reason that yr’s starting, regardless of notable worth variations.Also Read | Gold vs Silver: Why silver could outperform gold quickly; treasured metal prices surge, record-breaking rally probablyThe worth fluctuations are attributed to a number of components, together with President Trump’s tariff modifications, worldwide political tensions, and worldwide financial progress issues. Despite the adjustment in US-China tariffs, persistent market uncertainty and underwhelming US financial indicators proceed to bolster gold valuations.In his long-term evaluation, Modi identifies substantial assist ranges between Rs 88,000-90,000 per 10 grams and advocates buying throughout worth declines. His forecast suggests gold prices may advance to Rs 1,00,000-1,06,000 over the following 12-15 months, supplied essential assist ranges maintain regular.