By Admin 
Gold price today: Gold prices created a new history on the domestic futures market (MCX) on Monday, June 16. The price of gold delivery gold reached Rs 1,01,078 per 10 grams in the first part of the day. However, later it was slightly cooled and stabilized around Rs 1,00,290. The boom was seen mainly due to the increasing military tension between Israel and Iran, increasing the demand for safe investment worldwide.
Why sleep?
Israel has taken fresh military action on Iran, causing the threat of widespread war in the whole of West Asia. The US has also warned of possible intervention and Israel has announced an emergency. At this time, investors from all over the world feel that this war may have an impact on the stock market in the coming time. This is the reason that investors are investing their money in gold called safe haven. This is not the first time that gold has gained momentum due to increased tension between two countries. Earlier, gold also gained momentum in India Pakistan tension, Russia Ukraine Tension and the ongoing tariff war between America China.
On the other hand, the US dollar strengthening and the policy meeting of US Federal Reserve to be held on 18 June has kept investors a little cautious. But despite the positive of the US’s latest inflation figures (CPI), there is a danger of breaking nuclear dialogue between Iran-America, which may push gold further.
What will happen next?
Gold resistance on COMEX is considered to be $ 3,476. If the current speed persists, then it can also go up to $ 3,540. Gold is getting support at Rs 98,900 on MCX. If the stress is increased, then the rate of gold can again reach Rs 1,02,000 in future.
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