5 Articles
5 Articles
Although gold prices rose by Rs 23 per gram in the Chennai retail market today, the international market is facing a major impact from Iran. Its impact is expected to reverberate in the Indian market in the next 24 hours. The war between Iran and the US, with the 60-day deadline for the peace agreement, has come to an end.
Although fundamentals remain quite supportive, technical movements indicate that gold prices are not yet completely safe from correction. Developments in US-Iran relations will be a key catalyst in the coming days. If negotiations deteriorate further or a new military escalation occurs, demand for safe havens could potentially increase, boosting gold prices.
On Monday, the 17th, in the New York foreign exchange market, the yen was trading at 1 dollar = 159.43-53 yen as of 5 p.m., 12 sen weaker against the dollar compared to the previous Friday. The euro was trading at 1 euro = 1.1575-85 dollars and 184.55-65 yen.
Today was another high-priced start for gold and silver buyers. Prices of both precious metals rose on Monday on the domestic futures market, MCX. A weak US dollar and changing expectations regarding the US Federal Reserve's interest rate hikes have driven the rise in gold and silver prices.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
