Gold Price Today: The yellow metal rate rose on MCX today, May 27 amid ongoing uncertainties in the US-Iran conflict, recovering Tuesday losses.
At 9:02 am on Wednesday, the MCX gold June futures contract was 0.12% up trading at Rs 1,57, 331 per 10 grams, while the MCX silver July futures surged 0.51% to Rs 2,72,000 per kg.
On Tuesday, the MCX gold June futures closed 1% down at Rs 1,56,927 per 10 grams, while the MCX silver July futures ended 0.13% lower at Rs 2,70,270 per kg.
In global markets, gold continued to fall in early trade after fresh strikes in the Middle East diminished hopes for a US-Iran peace deal and raised concerns that inflation could keep interest rates higher for longer.
The precious metal traded at around $4,510 an ounce after falling 1.4% on Tuesday. The tensions between US and Iranian forces near the Strait of Hormuz occurred even as both sides considered progress toward an interim peace deal.
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