Gold prices rise for 5th day 'Middle East tensions'

Gold prices climbed for a fifth straight session in the global markets on Tuesday amid escalating conflict in the Middle East and a spike in energy prices. MCX gold April futures gained 2.53 per cent to Rs 1,66,199 per 10 grams on Monday, while MCX silver May futures eased 0.90 per cent to Rs 2,80,090 per kg.

India’s Multi Commodity Exchange will remain closed for the first half of trading on Tuesday for Holi, with evening trading resuming at 5 pm. Tensions in West Asia pushed



investors toward safe‑haven assets and raised concerns about inflation in the US and about the Federal Reserve leaving interest rates unchanged for longer.

Spot gold rose 0.8 per cent to $5,360 an ounce, while US gold futures gained roughly 1 per cent and spot silver advanced about 1.9 per cent to $91.11 an ounce. The dollar index surged 0.19 per cent to 98.57, making greenback-backed bullion expensive for buyers in overseas currencies, capping further gains in the yellow metal.