Gold Prices Soar Past ₹1 Lakh Amidst Israel-Iran Tensions
Geopolitical unrest in the Middle East has sent gold prices skyrocketing, with MCX gold rates breaching the ₹1 lakh mark. This surge reflects a significant flight to safety as investors seek refuge in precious metals during times of heightened global instability.
On the Multi Commodity Exchange (MCX), gold opened strong at ₹99,500, a notable 1.12% increase (₹1,108) from its previous close of ₹98,392. It then quickly climbed to a record high of ₹1,00,288. As of Friday, June 13, 2025, 09:50 AM (India Time), MCX gold (24 Karat, 10gm) is trading around ₹100,380.
Silver also joined the upward trend, with MCX silver prices rising by ₹565 (0.53%), opening at ₹1,06,450 per kilogram compared to its previous close of ₹1,05,885. As of Friday, June 13, 2025, 09:50 AM (India Time), MCX silver (999 Fine, 1kg) is trading around ₹107,030.
Internationally, the Gold Price (XAU/USD) climbed to over five-month highs near $3,425 during Asian trading hours on Friday. As of Friday, June 13, 2025, 09:50 AM (India Time), Gold – US Comex (USD $/Ounce) is at $3,451.30.
This dramatic price movement underscores gold’s enduring role as a “safe-haven” asset. As geopolitical tensions persist, particularly in oil-producing regions, analysts warn that the upward trajectory of gold prices could continue, impacting not just the commodities market but broader economic indicators. Investors are closely monitoring the situation, solidifying gold’s position as a crucial hedge against global uncertainty.