Gold futures jump ₹598 to ₹159,145 amid West Asia tensions
Business
Gold futures for June jumped ₹598 to ₹159,145 per 10gm on the MCX on Monday.
The main reason? Rising tensions in West Asia have investors looking for safe bets.
Globally, though, gold's price is feeling the squeeze from higher US bond yields and a stronger US dollar.
Manav Modi sees bond yields climb
According to analyst Manav Modi, US and Japanese bond yields are climbing thanks to inflation worries, especially with energy markets rattled by Washington-Tehran conflicts.
He also points out that investors are watching economic data from the US and China for clues on where things go next.
Notably, gold had recently hit a one-and-a-half-month low before bouncing back now, showing just how much global uncertainty is shaking up the market.