Gold Price Today: The yellow metal rate on India's MCX was trading flat on Tuesday, April 7 amid ongoing uncertainties in the Middle East conflict.
At 9:01 am on Tuesday, the MCX gold May futures contract was 0.06% up to Rs 1,48,323 per 10 grams, while the MCX silver May futures fell 0.34% to Rs 2,32,575 per kg.
On Monday, the MCX gold May futures closed 0.06% down to Rs 1,48,500 per 10 grams, while the MCX silver May futures ended 0.01% lower to Rs 2,33,367 per kg.
Globally, gold traded lower, continuing a two-day decline following US President Donald Trump's latest threat to destroy Iranian infrastructure and the impact of a protracted war on economic growth. The yellow metal price fell 0.7% to $4,620 an ounce, losing more than 2% over the two previous sessions, according to data collected by Bloomberg. Trump has set a deadline of 8 pm Eastern Time (5:30 am IST) to reach a deal with Iran or attack power plants and bridges.
The bullion has dropped around 12% after the Middle East conflict began on February 28 as the precious metal traditional safe haven appeal appeared to diminish. Gold has moved largely in an inverse relationship with oil.
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