Gold Futures Rise to ₹1.56 Lakh per 10g on Safe‑Haven Demand Amid US‑Iran Tensions
Geopolitical risks boost safe-haven demand as April gold contracts climb on MCX
Mumbai, Feb 20 : Gold prices rose sharply by Rs 1,315 to hit Rs 1,56,134 per 10 grams in Friday’s futures trade, tracking strong global trends amid escalating tensions between the United States and Iran. The surge reflects heightened safe-haven demand as investors seek stability amid geopolitical uncertainty.
On the Multi Commodity Exchange (MCX), April gold contracts gained 0.85% in a turnover of 7,355 lots. Internationally, Comex gold for April delivery advanced USD 49.55, or 1%, to USD 5,046.95 per ounce, crossing the USD 5,000-mark.
Hareesh V, Head of Commodity Research at Geojit Investments, noted that while a strong US dollar and shifting interest-rate expectations may limit sharp gains temporarily, escalating US-Iran tensions are likely to sustain risk-averse flows, potentially supporting further increases in gold prices.
Heightening concerns, US President Donald Trump issued a 10-day ultimatum to Tehran over its nuclear program, adding a geopolitical risk premium to global markets. Renisha Chainani, Head of Research at Augmont, added that the rising US military presence in the Middle East and stalled Ukraine-Russia peace talks have intensified global uncertainty, reinforcing demand for precious metals as safe-haven assets
