Gold Price Today: The yellow metal fell on Multi Commodity Exchange of India (MCX) today, July 10 as crude prices soared amid renewed tensions in the Middle East.
At 9:05 am on Friday, the MCX gold August futures contract dipped 0.26% to Rs 1,44,916 per 10 grams, while the MCX silver September futures rose 0.05% to Rs 2,26,500 per kg.
In global markets, gold prices steadied as investors assessed the fallout from renewed fighting in the Middle East and the possibility of interest-rate hikes to combat inflation. Bullion traded near $4,120 an ounce after snapping a three-session losing streak in the previous session.
Talks between the US and Iran are continuing, according to an American official, despite this week's exchange of airstrikes and the reimposition of US oil sanctions on Iran. The renewed clashes have put last month's interim peace deal at risk and raised uncertainty over the safe passage of energy and other commodities through the Strait of Hormuz.
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