Gold Price Today: The yellow metal rate fell on Multi Commodity Exchange of India (MCX) today, July 16 after US launched fresh strikes against Iran, escalating geopolitical tensions.
At 9:01 am on Thursday, the MCX gold August futures contract dipped 0.42% to Rs 1,41,207 per 10 grams, while the MCX silver September futures dropped 0.4% to Rs 2,19,738 per kg.
Gold dropped in the global market, wiping out a moderate gain from the previous session, as escalating tensions in the Middle East fueled concerns that energy prices and inflation will stay high. The precious metal slipped as much as 0.9% to near $4,025 an ounce after the US finished the latest round of strikes on Iran. US President Donald Trump has vowed to attack until Tehran stops targeting ships in the Strait of Hormuz.
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