Gold Price Today: The yellow metal rate fell on Multi Commodity Exchange of India (MCX) today, July 23 as Middle East tensions escalate after Iran-backed Houthi militants claimed responsibility for attacks on two Saudi Arabian oil tankers in the Red Sea.
At 9:04 am on Thursday, the MCX gold August futures contract dipped 0.31% to Rs 1,44,963 per 10 grams, while the MCX silver September futures dropped 0.23% to Rs 2,26,474 per kg.
In contrast gold continued to gain on dip-buying in the global markets despite ongoing tensions in the Middle East pushed oil prices to new highs, raising concerns that US inflationary risk could prompt the Federal Reserve to raise interest rates.
The precious metal traded near $4,130 an ounce, after a 3% jump over the previous two days as dip-buying supported prices. While, US and Iran signaled that they aren't ready for peace talks, Houthis said they had attacked the tankers Encelia and Layla with missiles and drones, accusing the vessels of violating a blockade. Earlier, the UK Maritime Trade Operations (UKMTO) reported that a ship had been struck by a projectile off Saudi Arabia's Red Sea coast near Al Shuqaiq, triggering a fire on board.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
