Gold Price Today: The yellow metal rate fell marginally on Multi Commodity Exchange of India (MCX) today, July 8 after US launched fresh strikes against Iran, heightening geopolitical tensions.
At 9:02 am on Wednesday, the MCX gold August futures contract dipped 0.1% to Rs 1,45,130 per 10 grams, while the MCX silver September futures dropped 0.06% to Rs 2,30,711 per kg.
Gold price changed marginally as investors assessed hints on the Federal Reserve's outlook for interest rates, with renewed geopolitical tensions as US attacks Iran, raising concerns around a return to higher energy prices and inflation.
The precious metal traded around $4,100 an ounce, little changed after 1.4% loss in the previous session. US Central Command said it launched “powerful strikes” in response to Iranian attacks on shipping in the Strait of Hormuz, just hours after Washington revoked a waiver that had allowed Tehran to sell oil globally. Crude prices soared.
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