Current Gold Price: Track current gold rate trends and news

NEW DELHI: Gold rose more than 1 per cent on Friday to a 5-month high as investors sought safe-haven assets after the United States launched cruise missiles on a Syrian air base, potentially escalating tensions with Syrian allies Russia and Iran.

US President Donald Trump unleashed military strikes against the air base in response to a deadly chemical attack on a rebel-held area, a US official said on Thursday.

Track this space for this and much more on the yellow metal -



WHAT'S HAPPENING TODAY
Demand for save haven assets increased in Friday’s trade after the US military launched cruise missile strikes against a Syrian air base controlled by President Bashar al-Assad's forces. As a result, precious metal gold on the Multi Commodity Exchange (MCX) was trading 0.50 per cent, or Rs 144, up at Rs 28,865 per 10 gram around 10.30 am (IST). White metal silver was also up by 0.56 per cent, or Rs 237, at Rs 42,330 per 1 kg. READ MORE

WHAT HAPPENED YESTERDAY
After rising for three straight days, gold drifted lower by Rs 125 to Rs 29,275 per 10 grams today on weak global cues amid fall in demand from local jewellers. Silver followed suit and softened by Rs 100 to Rs 42,500 per kg due to reduced offtake by industrial units and coin makers. READ MORE

GST MAY MAKE GOLD COSTLIER
Gold may become costlier for Indians if the government accepts chief economic advisor Arvind Subramanian's suggestion to put the yellow metal in the 12% tax bracket under GST. With an import duty of 10%, tax on gold may turn out to be 22%, which will reduce its consumption in the physical form in the second largest gold consuming nation in the world. READ MORE

GOLD MAY CLIMB TO $1,500
Gold is poised to rally to levels last seen four years ago as rising inflation and negative real interest rates combine to boost demand, according to Incrementum AG, which says that the precious metal may be in the early stages of a bull market. Prices may climb to $1,400 to $1,500 an ounce this year, said Ronald-Peter Stoeferle, managing partner at the Liechtenstein-based company, which oversees 100 million Swiss francs ($101.5 million). READ MORE