Gold rises over 1% to ₹1.51L amid U.S.-Iran tensions
Gold prices shot up over 1% to ₹1.51 lakh per 10gm on Monday, mainly because of rising tensions between the US and Iran in West Asia.
Internationally, gold futures climbed too, as investors looked for safer options with all the uncertainty.
The markets were closed for Good Friday, so this was the first trading reaction after the weekend.
Experts expect gold ₹1.44L-₹1.54L range
Analysts say US President Donald Trump's new ultimatum on the Strait of Hormuz and Iran's fiery response are making things unpredictable and pushing people toward gold.
Still, gold prices have actually dropped nearly 9% since February due to higher oil costs and talk of global interest rate hikes.
Experts think gold will stay in the ₹1.44-1.54 lakh range this week as everyone keeps an eye on both world events and key US economic updates like GDP and inflation data.