Trending gold price hike

Trending  gold price hike

Gold prices have recorded a record high due to deepening tension between the US and Iran. On Wednesday, the third trading day of the week, gold started at Rs. 40,946 per ten grams on Multi Commodity Exchange (MCX), India's largest futures market. At the same time, gold rose to Rs 41,278 per 10 grams. It is the gold's all-time high. Apart from this, silver was trading at Rs 48,661 per kg with a gain of Rs 550 i.e. 1.15 per cent. Meanwhile, on the international futures market Comex on Wednesday, gold's February contract gained $ 17.05, or 1.08 per cent, to trade at $ 1,591.35 an ounce.

Trend in gold is being seen

Due to tensions between the US and Iran, the trend in gold is being seen due to the tendency of investors towards safe investment. Let us know that on Friday, the US launched an air raid on the airport in Baghdad, the capital of Iraq. Iran's commander General Qasim Sulemani died in this attack.

This incident has increased the tension between the two countries. Crude oil prices have increased in the international market due to stress. On Wednesday, the price of crude oil crossed $ 71 per barrel. Earlier, the price of crude oil went up to $ 71.95 per barrel on 16 September 2019. At that time, two plants of the world's largest oil company based in Saudi Arabia had a drone attack.