Gold Price Today: The yellow metal rate rose on MCX today, May 25, amid hopes of easing tensions between US and Iran
At 9 am on Monday, the MCX gold June futures contract jumped 0.4% to Rs 1,58, 762 per 10 grams, while the MCX silver July futures surged 1.55% to Rs 2,76,052 per kg.
On Friday, the MCX gold June futures closed flat at Rs 1,58,085 per 10 grams, while the MCX silver July futures ended 0.09% lower at Rs 2,71,600 per kg.
Globally too, gold surged as signs the US and Iran are nearing a deal that would reopen the Strait of Hormuz tempered inflation concerns, Bloomberg reported. The yellow metal rose up to 1.6% to around $4,580 an ounce, wiping away a moderate loss from last week. Negotiations on the precise language of the deal were ongoing and it may take several days for both sides to get final approval, according to reports. President Donald Trump said on social media he won't “rush” into an agreement.
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