Gold Price Today: The yellow metal rate rose on MCX today, June 2 amid renewed tensions between US and Iran, delaying hopes of a peace deal soon.
At 9:04 am on Wednesday, the MCX gold June futures contract jumped 0.1% to Rs 1,54, 781 per 10 grams, while the MCX silver July futures dropped 0.24% or 6,388 to Rs 2,66,076 per kg.
In the global market, gold remained steady as tensions in the Middle East escalated again raising doubts over negotiations between the US and Iran to end the three month old conflict that has disrupted energy flows and heightened inflation concerns.
Iran launched a wave of ballistic missiles and drones at US military bases in Kuwait and Bahrain on Wednesday, after American forces struck an Iranian military ground control station on Qeshm Island in the Strait of Hormuz.
The precious metal traded around $4,490 an ounce, after a nearly 0.6% fall in early trading before erasing losses, Bloomberg reported. Meanwhile, US President Donald Trump said he's optimistic Washington can finalise an interim peace deal with Tehran soon, in contrast with reports by Iranian state media that discussions have been suspended over fighting in Lebanon.
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