The yellow metal's price in India gained or lose nearly 0.62% in the domestic futures market during early trading hours on Monday, October 5, tracking movements in the US dollar and geopolitical developments.
MCX Gold 5 November futures stood at ₹148,129 per 10 grams, while MCX Silver 4 December contracts were up 0.23% at ₹226,393 per kg at around 9:05 am today. The two precious metals moved in different directions.
US-Iran war remains a key factor for uncertainty in bullion markets. US President Donald Trump said last week that Washington faced a choice between further military action against Iran and reaching a deal with Tehran.
Any escalation in their conflict could push investors towards gold as a safe-haven asset. However, easing concerns over oil supplies have helped reduce the geopolitical risk premium in bullion in last few sessions.
Changes in retail gold and silver prices today
In the retail market, gold is sold in 24-karat and 22-karat purity. While 24-karat gold is considered the purest form, 22-karat gold is more commonly used for making jewellery because it's more durable in nature.
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