Gold price today: Gold rate climbed on the MCX on Friday (8 May) morning on healthy spot demand and positive global cues, even as an elevated US dollar amid a rebound in crude oil prices capped gains.
MCX gold June futures were 0.42% up at ₹1,52,900 per 10 grams, while MCX silver July futures were 1% up at ₹2,61,153 per kg around 9:10 am.
The dollar index climbed by 0.20% after crude oil benchmark Brent Crude jumped over 1% to reclaim the $100 per barrel mark.
Fresh military exchanges in the Middle East drove oil prices higher. As per reports, the U.S. military said on Thursday it intercepted Iranian attacks targeting three Navy ships in the Strait of Hormuz and carried out strikes on Iranian military facilities allegedly linked to assaults on American forces.
(This is a developing story. Please check back for fresh updates.)
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
