Price of precious yellow metal rose by Rs 18 to Rs 40,490 per 10 gram in futures trade on Tuesday as investors continued to move towards the safe haven asset amid heightened tensions between the US and Iran.
Middle east on Monday mourned the death of top Iranian commander Qasem Soleimani—who was killed in an US airstrike on Baghdad’s international airport on Friday last week, spiking tension in the region.
As a result, panicked investors are investing in Gold contracts. On the Multi Commodity Exchange, gold contracts for February traded higher by Rs 18, or 0.04 per cent, at Rs 40,490 per 10 gram with a business turnover of 4,004 lots.
The yellow metal for April delivery traded higher by Rs 12, or 0.03 per cent, at Rs 40,691 per 10 gram in a business turnover of 288 lots.
Globally, gold prices rose 0.02 per cent to USD 1,569.10 per ounce in New York.
(With input from agencies)