Gold and silver prices in India rose due to increased tension in the Middle East. On Monday, MCX gold futures went up by 0.28%, reaching Rs 61,328 per 10 grams. Silver futures (Dec 5) saw a rise of 0.82%, reaching Rs 72,304 per kg.
Analysts suggest that the conflict in the Middle East is now a significant factor affecting precious metal prices. While this tension is important, decisions on interest rates by major central banks, including the Federal Reserve, will also impact prices.
Traders are advised to consider these factors while making buying decisions for gold and silver futures. In the international market, COMEX gold is trading higher at $2012.3 per ounce.