Gold price rises above Rs 40,500 amid US-Iran tension
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Gold prices on Monday crossed Rs 40,500 per 10 gram for the first time owing to the escalating US-Iran tensions.

According to the prices given by the Indian Bullion and Jewellers Association, on January 6 the rate without GST for gold (purity-999) is Rs 40,842 while for gold with purity-995 is Rs 40,678. Silver prices, however, saw a drop to Rs 47,955 per kg from Rs 48,080 per kg.

Gold prices according to purity levels are as follows:

999- Rs 40,842/-

995 - Rs 40,678/-

916 - Rs 37,411/-

750 - Rs 30,632/-

585 - Rs 23,893/-

In the global market, gold traded with gains at USD 1,575 per ounce and, likewise, silver also quoted higher at USD 18.34 per ounce. International gold prices at COMEX climbed as much as 2.3 per cent to USD 1,588.13 an ounce, the highest level since April 2013, and traded at USD 1,575 an ounce. Along with the other Asian currencies, the rupee traded with a loss of 25 paise amid higher crude oil prices.

In the morning trade, the rupee depreciated 31 paise to 72.11 weighed by the spike in crude oil prices, amid rising concerns over US-Iran tensions. The Sensex crashed nearly 788 points on Monday as heightened tensions in the Middle East kept investors on edge. The domestic market witnessed intense sell-off in line with global stocks after US President Donald Trump warned Iran of major retaliation if Tehran carries out any attack against America to avenge the killing of top military commander Qassem Soleimani.

(Inputs from Agencies)

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