Gold Price Today: The yellow metal rate dropped on MCX today, June 8 amid geopolitical uncertainties in the Middle East.
At 9:05 am on Monday, the MCX gold August futures contract fell 1.27% to Rs 1,53,695 per 10 grams, while the MCX silver July futures dropped 2.35% to Rs 2,42,763 per kg.
In the global market. gold prices continued to weaken after Israel announced military strikes against targets in Iran, raising concerns that a fragile ceasefire in the Middle East could unravel. The precious metal dropped by as much as 0.7%, trading close to $4,300 per ounce. The decline follows a nearly 5% fall last week, which occurred during the most significant escalation of regional tensions since the ceasefire reached in early April.
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Hostilities intensified again on Monday. According to the Israel Defense Forces, Israeli forces carried out attacks on military sites in western and central Iran after intercepting missiles launched from Iran toward Israeli territory.
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