Gold Price Today: The yellow metal rate on India's MCX was down on Friday, April 10 amid US-Iran war uncertainties.
At 9:01 am on Friday, the MCX gold May futures contract fell 0.42% to Rs 1,51,438 per 10 grams, while the MCX silver May futures dropped 0.5% to Rs 2,42,561 per kg.
In the global market, the bullion headed for a third weekly gain amid hopes of diplomatic resolution to the US-Iran war and continued buying by central banks outweighed peristent risks over inflation.Gold steadied around $4,760 an ounce on Friday, to mark a weekly gain of 2%, Bloomberg reported.
It is must be noted that key unresolved issues over Middle East conflict will remain in focus with the weekend negotiations in Islamabad, when US Vice President JD Vance led delegation is set to meet Iranian officials
Meanwhile, US President Donald Trump said that he remains "optimistic" over the deal with Iran to end more than a month long conflict but later threatened to Tehran over imposing fees for ships to pass through the Strait of Hormuz. Additonally, strikes by Israel in Lebanon have impacted the two-week ceasefire announced, earlier this week.
From the end of February, since the conflict began, the yellow metal has lost around 10%, with the its safe haven appeal dimming as investors require losses elsewhere.
Gold prices have been also driven by the indications that some of the world's bullion buyers continue to pourchase it. The central bank of Poland is maintaining a target to boost reserves to 700 tons, its governor informed, while China has added nearly 5 kg of gold on the month of March, its highest monthly purchase in an year.
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