Business News: Gold Rates Fluctuate Amidst Israel-Palestine Ongoing Conflicts

10 Oct, 2023 Author: Ayushee Joshi

Gold Price Today: The Hamas Militant Group, which has occupied Gaza, recently launched over 5,000 surprise missile attacks on the Israeli territory, breaching the security of the Iron Dome. The sudden attack has created global tensions, killing and injuring thousands of people from both sides. While thousands of people have been impacted by this ongoing war-like situation between the two countries, global investors are also concerned about the investments. The impact of the ongoing conflicts is quite visible in the commodities markets, especially in the gold and silver market.

Gold Price Increases in India

Gold demand has surged significantly in the market, causing the premium for gold and silver to rise rapidly. In addition, there is a chance that the conflict may cause the stock market to drop. Not only this, gold and silver have also become more expensive in the Indian bullion market. As of October 9, 2023, the price of gold has risen to Rs 58,350 per 10 grams, as reported by HDFC Securities. Simultaneously, the price of silver has surpassed Rs 72 thousand per kilogram.