For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold Prices Hold To Previous Levels As US-Iran Point Avoiding Further Conflict

|

Gold which is considered a safe haven has lost its appeal as risk appetite improves as US-Iran point at not entering into a deeper conflict. The US President confirmed that no US troops have been hurt in the attack by the Iran forces in Iraq. In the global market, gold price remained steady and retreated from their 7-year highs to $1551.50 per ounce by 6 am IST. Just a day before, prices scaled to as much as $1601.90.

Gold Prices Steady As US-Iran Point Avoiding Further Conflict
 

The positive sentiment came in as US said it did not necessarily need to retaliate to Iran's attack on Iraq housing US troops. Meanwhile, foreign minister of Iran said the strikes to be as concluded.

Other factors weighing down the strength in the precious yellow metal were US private payrolls which stood at its highest in 8 months in the December month.

Back home also on the back of worsening US-Iran tensions, gold climbed to new record highs of Rs. 42000 per 10gm. On Thursday, on the MCX, gold is almost flat with an upward bias of 0.03% at Rs. 40121 per 10 gm. Silver March contract on the other hand traded with a discount of 0.2% or lower by Rs. 96 at Rs. 47295 per kg.

In the spot market, gold of 24 K in India is quoting at Rs. 41,160 with a change of just Rs. 10.

GoodReturns.in

Read more about: gold safe haven yen
Story first published: Thursday, January 9, 2020, 9:57 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more