Gold price today: Gold rate jumped by 1% on the MCX on Friday (March 6) morning, supported by a softer US dollar and healthy spot demand amid persisting geopolitical risks and a volatile stock market.
MCX gold April futures climbed to ₹1,61,108 per 10 grams, rising by almost 1%, while MCX silver May contract jumped to ₹Rs 2,68,378 per kg, jumping 2.4% in early deals.
The dollar index eased by 0.40% to 98.94 amid profit-taking, making the greenback-backed yellow metal cheaper for overseas buyers.
The US-Iran war is showing no signs of ending soon. US President Donald Trump maintains his aggressive stance on Iran and has signaled he has some plans for Cuba also.
Trump said on Thursday he wants to finish the war in Iran first, but then it “will be just a question of time before you and a lot of unbelievable people are going to be going back to Cuba.”
The combined US-Israel attack on Iran entered its sixth day on Thursday, significantly raising geopolitical risks. The conflict in West Asia (the Middle East) has disrupted energy supplies, spiked crude oil prices, and raised concerns about inflationary pressures and the consequent elevated interest rates.
