The MCX gold rate registered over ₹1,000 per 10 gm on Friday and touched a fresh high of ₹73,461 per 10 gm mark. Similarly, silver prices touched a new peak of ₹85,051 per kg on MCX during Friday deals.
Immediate reason for the rise in the safer haven demand is escalating tension in the Middle East on Iran-Israel war buzz whereas US Fed rate cut speculations and aggressive gold buying by the Chinese central bank are also playing an important role in the current gold and silver prices rally.
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