Gold price today: Gold rate rose in the domestic futures market on Tuesday (March 17) morning, as heightened geopolitical risks stemming from the US-Iran war and the dollar’s volatility boosted demand for the yellow metal.
MCX gold April contracts rose more than half a percent to ₹1,56,740 per 10 grams, while MCX silver May futures climbed more than 1% to ₹₹2,59,569 per kg in early deals on Tuesday.
The US–Iran war is now in its third week, and yet there are no signs indicating that it will end anytime soon.
Almost the entire Middle East is in chaos due to the war now. Iranian drones have attacked Dubai, Abu Dhabi, and Fujairah. Dubai International Airport was closed due to a drone strike on a fuel tank near the airport.
Meanwhile, crude oil prices continue to trade above $100 per barrel, keeping investors concerned about potential inflationary pressures and a dent in economic growth.
The US dollar is trading volatile ahead of the US Federal Reserve’s policy decision on 18 March. The US Fed is expected to keep rates unchanged amid evolving geopolitical conditions.
(This is a developing story. Please check back for fresh updates.)
