Gold hits Rs 1.55 lakh, silver Rs 2.37 lakh on Monday

Gold and silver prices rose across Indian cities on Monday, led by geopolitical uncertainty and a weaker dollar. According to ndtvprofit.com, 24K gold was quoted at Rs 1,54,860 per 10 grams at the national level, while silver 999 fine stood at Rs 2,37,270 per kg. City-wise, Chennai recorded the highest gold price at Rs 1,55,030, followed by Hyderabad and Bengaluru.

Mathrubhumi reported gold at different levels depending on the benchmark. It cited MCX October gold futures gaining 0.73% to Rs 1,54,590, while a separate IBJA data put 24-carat gold at Rs 1,49,621 per 10 grams on Friday. Silver futures on MCX rose 0.15% to Rs 2,36,272 per kg. The news outlet attributed the rise to the US-Iran conflict, lower US Treasury yields, and a weakening dollar.

On a yearly basis, gold has surged 54.26% and silver has rallied 106.3%, ndtvprofit.com said. Indian equities were headed for a muted start, with GIFT Nifty down 24 points. Oil prices remained near $90 per barrel for Brent, which could affect inflation and the rupee.