India’s Multi Commodity Exchange will remain closed for the first half of trading on Tuesday for Holi, with evening trading resuming at 5 pm
Spot gold rose 0.8 per cent to 5,360 USD an ounce, while US gold futures gained roughly 1 per cent. Representational Pic
Gold prices climbed for a fifth straight session in the global markets on Tuesday amid escalating conflict in the Middle East and a spike in energy prices.
MCX gold April futures gained 2.53 per cent to Rs 1,66,199 per 10 grams on Monday, while MCX silver May futures eased 0.90 per cent to Rs 2,80,090 per kg.
India’s Multi Commodity Exchange will remain closed for the first half of trading on Tuesday for Holi, with evening trading resuming at 5 pm.
Tensions in West Asia pushed investors toward safe‑haven assets and raised concerns about inflation in the US and about the Federal Reserve leaving interest rates unchanged for longer.
Spot gold rose 0.8 per cent to 5,360 USD an ounce, while US gold futures gained roughly 1 per cent and spot silver advanced about 1.9 per cent to 91.11 USD an ounce.
The dollar index surged 0.19 per cent to 98.57, making greenback-backed bullion expensive for buyers in overseas currencies, capping further gains in the yellow metal.
US President Donald Trump said the military offensive against Iran will continue for as long as it takes. Tehran reportedly targeted oil and gas infrastructure in Saudi Arabia and threatened shipping in the strategic Strait of Hormuz. Meanwhile, Israel announced a “wave of strikes” targeting Iran’s command centres.
Iran's retaliatory strikes on oil and gas facilities have heightened fears of supply disruption, lifting oil prices and stoking inflation worries.
US crude futures rose 1.4 per cent to USD 72.23. Brent crude gained 1.87 per cent to trade at USD 79.2 per barrel in early session on Tuesday.
Investors remain keen on cues from US Manufacturing and Non-Manufacturing PMI, ADP Non-Farm Employment Change and Unemployment data for assessing direction of Federal Reserve policy.
Gold has rallied nearly 25 per cent in 2026 after rising 64 per cent last year amid robust central bank buying, inflows into exchange‑traded funds and concerns about the US Federal Reserve's independence.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
