Gold Price Today: The yellow metal rate fell on Multi Commodity Exchange of India (MCX) today, June 11 as crude prices soared after US launched fresh strikes against Iran, heightening geopolitical tensions.
At 9:34 am on Thursday, the MCX gold July futures contract dipped 0.76% to Rs 1,45,282 per 10 grams, while the MCX silver July futures dropped 0.86% to Rs 2,33,490 per kg.
Gold rose in the global market amid growing tensions between US and Iran, pushing up oil prices and raising inflation concerns. The precious metal jumped up to 1.1%, reversing a similar drop that took the metal close to $4,000 an ounce earlier Thursday.
The US military said it had completed strikes against targets in Iran, after President Donald Trump accused the country of dragging out talks on an interim peace deal. In response, Tehran announced that it is closing the Strait of Hormuz to all vessels. Additionally, the Iran's Islamic Revolutionary Guard Corps (IRGC) has announced to close Strait of Hormuz “until further notice”, while claiming that the US made “repeated violations” of their April ceasefire.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
