Gold futures climbed to Rs 1.52 lakh per 10 grams on Monday, driven by renewed investor optimism following a potential deal between the United States and Iran. The positive sentiment in global markets lifted demand for the precious metal as a safe-haven asset.
Market Recovery After Last Week's Decline
The latest uptick marks a recovery from last week's losses, when gold futures had dropped by Rs 5,066, or 3.2 per cent, settling around Rs 1.50 lakh per 10 grams. The decline was attributed to profit-booking and a stronger dollar amid geopolitical uncertainties.
Impact of US-Iran Agreement
Reports of a tentative agreement between Washington and Tehran eased tensions in the Middle East, encouraging investors to shift towards assets like gold. Analysts believe the deal could stabilize oil prices and reduce regional risks, further supporting bullion prices.
Market participants are now watching for official confirmations and further developments. The rally in gold futures also reflects broader risk-on sentiment across commodities and equities.
As of 10:29 AM IST, gold contracts were trading higher, with analysts expecting continued volatility in the near term depending on geopolitical updates and global economic data.
