The latest round of global bullion trading on August 17 was marked by a small uptick in prices, driven by renewed tensions between the United States and Iran. Investors reacted cautiously, keeping a close eye on geopolitical developments that could influence market sentiment.
On the New York market, COMEX gold futures gained 0.31%, closing at $4,451.10 per ounce. The rise was modest but reflected a steady demand for gold as a safe‑haven asset amid uncertainty.
Silver prices moved in a similar direction, up 1.09% to $65.815 per ounce during the morning session. The metal’s price increase was driven by a mix of industrial demand and speculative buying.
In London, the official gold price at the end of the day was $4,390.70 per ounce, as recorded by the LBMA on August 14. This figure provides a benchmark for traders and investors worldwide.
In India, the domestic spot market on the MCX closed the Friday session (August 14) at Rs 1,51,744 for a 10‑gram piece of 24‑karat gold. The price reflects the ongoing demand for gold in the country and the impact of global price movements.
It is worth noting that gold prices can differ from one city to another across India, depending on local supply and demand dynamics. However, the national average for a 10‑gram piece remains an important reference point for investors and buyers alike.