Gold Price Today: The yellow metal rate rose marginally on MCX today, May 19 amid hopes of easing tensions between US and Iran
At around 9 am on Tuesday, the MCX gold June futures contract rose 0.1% to Rs 1,59,067 per 10 grams, while the MCX silver July futures fell 0.42% to Rs 2,75,500 per kg.
On Monday, both MCX gold and silver closed flat at Rs 1,58,884 (10 grams) and Rs 2,76,600 (per kg) respectively.
Globally, gold continued to gain as the prospect of a US-Iran ceasefire deal eased some inflationary concerns that have weighed on bullion. The precious metal rose as much as 0.4% to trade around $4,585 an ounce, after ending the previous session up 0.6%.
On Monday, US President Donald Trump planned new attacks on Iran this week, but postponed after three Gulf allies seeked more time to negotiate a peace deal with Iran, Bloomberg reported.
According to Trump, the leaders of Qatar, Saudi Arabia and the United Arab Emirates had asked him to defer the attacks as they believed to strike a deal with Iran that would satisfy the US. Previously, the White House said a proposal sent by Iran through Pakistani mediators on Sunday did not have meaningful improvement, Axios reported.
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