Gold Price Today: The yellow metal rate dropped on MCX today, May 22, amid US-Iran conflcit uncertainties.
At 9:01 am on Friday, the MCX gold June futures contract fell 0.21% to Rs 1,58, 672 per 10 grams, while the MCX silver July futures dropped 0.4% to Rs 2,73,777 per kg.
On Thursday, the MCX gold June futures closed 0.11% higher at Rs 1,59,185 per 10 grams, while the MCX silver July futures ended 0.01% up at Rs 2,74,919 per kg.
The precious metal remained steady amid conflicting signals on the progress of US-Iran ceasefire talks continued to keep traders guessing over whether central banks would keep interest rates higher for longer to combat inflation. Bullion was trading around $4,540 an ounce, marginally changed from the previous week.
Ever since the US-Iran conflict began, gold first fell sharply and then traded has traded in a tight range as investors weigh higher rates against due to a possibility of high-inflation, low-growth scenario. Bullion fell nearly 14% since the war began in late February.
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