Gold Price Today: The yellow metal fell on Multi Commodity Exchange of India (MCX) today, July 9 as crude prices soared amid renewed tensions in the Middle East.
At 9:05 am on Thursday, the MCX gold August futures contract dipped 0.14% to Rs 1,43,350 per 10 grams, while the MCX silver September futures dropped 0.63% to Rs 2,22,026 per kg.
In the global markets, gold continued decline ion the second day as tensions between US and Iran escalate, raising energy prices and intensified concerns around inflation. The precious metal was little changed near $4,080 an ounce, after falling for three straight days. The latest attacks, described to degrade Iran's ability to disrupt shipping in the Strait of Hormuz by US Central Command, came hours after President Donald Trump said he thought a ceasefire was “over.” Tehran has threatened a large-scale retaliatory operation against US bases in the Middle East.
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