Gold Price Today / Gold made a reverse move in the Iran-Israel war, nobody thought this would happen

Gold Price Today: Global geopolitical tensions are rising due to the ongoing war between Iran and Israel. The effect of this increasing uncertainty is clearly visible on the prices of gold in the international market. Usually when tension and instability increases in the world, investors turn to gold as a safe option. This is the reason why gold prices have risen in the US and other international markets. But surprisingly, the opposite has been seen in India's capital Delhi.

Gold became cheaper in Delhi

According to the All India Sarafa Association on Monday, gold with 99.9 percent purity in the Delhi market fell by Rs 160 to Rs 99,800 per 10 grams. Whereas on Friday it closed at Rs 99,960 per 10 grams. Gold with 99.5 percent purity also fell by Rs 150 to Rs 99,100 per 10 grams (including all taxes). However, there was no change in the price of silver and it remained stable at Rs 1,05,200 per kg.

Gold prices rise in America

At the same time, in the international market of New York, the prices of both gold futures and spot have increased. Gold futures on Comex were seen trading at $ 3,393.20 an ounce with a rise of $ 7.50 by 8 pm. At the same time, the prices of gold spot rose by more than $ 11 and reached $ 3,379.54 an ounce.

What is the reason for the fluctuation in prices?

Kainaat Chainwala, AVP-Commodity Research, Kotak Securities, says that on Monday, gold prices had reached $ 3,413.80 an ounce at one time. But after this, a decline was seen as investors were waiting for the possible US air strikes on Iran and Tehran's response to it.

On the other hand, Riya Singh, Research Analyst at MK Global Financial Services, says that gold prices have increased by about 4 percent in the domestic market so far in the month of June, but due to weak jewellery demand and international trends, it remains lower than global rates.

What's next?

According to experts, gold prices may increase further in the coming days, especially if the situation in West Asia worsens further. Apart from this, the upcoming comments of the US Federal Reserve, inflation figures and GDP data will also affect the movement of gold.