Gold-Silver Price Today, 12 October:
How the 2023 Israel-Hamas War Is Impacting Precious Metal Prices
In recent times, we have witnessed a significant surge in the prices of gold and silver. The ongoing conflict between Israel and Hamas, which began with the 2023 Israel-Hamas war, has been a major driving force behind the continuous rise in gold prices. Experts anticipate that gold prices will continue to rise in the coming days. Many had plans to purchase affordable gold this Diwali, but according to media reports, the chances of a significant drop in gold prices during Diwali 2023 are quite low.
The Ongoing Impact of the Israel War
The daily escalation in the conflict between Israel and Palestine has added to the uncertainty in the region. This has led to expectations of further increases in gold prices in the near future. Today, on MCX (Multi Commodity Exchange), both gold and silver have become more expensive. Gold prices have crossed the 58,000 INR level.
Rising Prices on MCX
Gold prices on the Multi Commodity Exchange have risen by 0.28% today, reaching 58,104 INR per 10 grams. Additionally, silver has also increased by 0.60%, now priced at 69,840 INR per kilogram.
Global Gold and Silver Market Trends
The global market is also witnessing an upswing in both gold and silver prices. On COMEX, gold has seen a 0.16% increase, reaching $1,890.40 per ounce. The current global price of gold stands at $1,877.45 per ounce, with a 0.16% increase.
Silver Prices in the Global Market
Silver prices are also on the rise. On COMEX, the price of silver has increased by 0.64%, now valued at $22.28 per ounce. The current global price of silver is $22.12 per ounce, with a 0.37% increase.
Check Today’s Prices
You can easily check gold prices from the comfort of your home. According to the Indian Bullion and Jeweler’s Association, you can check prices by giving a missed call to 8955664433. By messaging this number, you will receive the latest prices promptly.
The prices of gold and silver have been on a continuous rise due to the ongoing Israel-Hamas conflict. This surge is not only limited to local markets but has also affected global trends. If you had plans to buy gold this Diwali, it might be a good time to reconsider. The conflict’s ongoing escalation suggests that the prices of these precious metals are likely to continue their upward trajectory.