Gold prices have shown a slight increase today, with the MCX gold rate finishing at ₹1,56,993 per 10 grams, up from ₹1,56,200 last week. Similarly, the COMEX gold rate rose to $5,080 per ounce from $5,043. This uptick comes amid renewed safe-haven demand driven by geopolitical tensions related to the US-Iran situation and the recent US Supreme Court ruling on tariffs imposed by former President Trump.

Why It Matters

The increase in gold prices is significant as it reflects ongoing market uncertainties. The US Supreme Court’s decision to invalidate Trump’s tariffs has led to a renewed interest in gold as a safe-haven asset. Market experts suggest that the MCX gold rate is approaching a critical resistance level at ₹1,61,000 per 10 grams, which, if breached, could lead to prices moving toward the record high of ₹1,80,779.

What’s Next

Looking ahead, analysts predict that gold prices may continue to rise due to persistent purchasing demand and macroeconomic factors. The recent recovery rally has added over ₹300 per gram from recent lows, indicating strong buying interest. Investors are advised to monitor these developments closely as the market reacts to ongoing geopolitical and economic changes.

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