Gold prices jump after escalation in Iran-Israel tensions. Should you buy in this rally?
Live MintGold rate today: On account of rising geo-political tension in the Middle East region, gold prices witnessed buying interest during the early morning session on Friday. In the international market, spot gold price also showed upside movement and came close to $2,400 per troy ounce levels in early morning deals. The Middle East tension has risen after reports of Israel's “missile attack” in an Iranian city, which has fueled the Iran-Israel war.” On other factors that are fueling gold prices today, Kotak Securities report said, "COMEX Gold prices edged higher amid dollar weakness, improved demand from Chinese buyers and central banks. On breaching the upper hurdle, gold prices may go up to $2,450 per troy ounce levels.” Anuj Gupta maintained that the MCX gold rate today has immediate support placed at ₹72,200 per 10 gm levels whereas it is facing resistance at ₹73,500 per 10 gm level.