Gold prices rallied by ₹831 to ₹74,222 per 10 grams on a firm trend globally over the weekend on fear of renewed tension between Iran and Israel after Iran’s President helicopter crash.
This apart, the recent fall in the US inflation rate has raised expectations of a cut in the US interest rate sooner rather than later.
After a trading holiday, the yellow metal opened on a bullish note at ₹74,222 per 10 grams against ₹73,383 logged last Friday, according to the Indian Bullion and Jewellers Association of India data.
Analysts anticipate continued volatility in gold prices, fluctuating between ₹71,000 and ₹75,000 in the near term.
