Gold, Silver Prices Inch Higher Amid Middle East Tensions — Check Prices In Mumbai, Chennai, And Other Cities

Gold and silver prices were marginally up on Tuesday as the precious metal commodity prices were trading near their all time high levels, as per the India Bullion Association.

Gold price was trading at Rs 99,580 per 10 grams, slightly lower than its all time high of Rs 1,00,480 per 10 grams.

The yellow metal hit an all time high last week after Israel launched military operations targeting Iran's nuclear power plant sites. The tension between the middle eastern nations has evolved into a much larger, full blown conflict with US striking Iran's nuclear sites over the weekend. But, the worst seems to have passed with Trump announcing that both Israel and Iran have agreed to "complete and total ceasefire".

In New Delhi, the price stood at Rs 98,230 per 10 grams, compared to Rs 99,970 per 10 grams on Monday. Gold price in Mumbai was Rs 99,400 per 10 grams against Rs 99,140 per 10 grams.

In Kolkata, the rate was Rs 99,270 per 10 grams, while in Bengaluru the rate stood at Rs 99,480. The price for the precious commodity was the highest in Chennai, trading at Rs 99,690 per 10 grams.

Gold spot price was 0.59% lower at $3,349.71 an ounce on Tuesday.

Aug. 5 futures for the yellow metal saw a 0.03% decline to Rs 99,355, according to the Multi Commodity Exchange.