Gold price today: Gold rates climbed in the domestic futures market on Tuesday morning as fresh geopolitical developments underpinned the yellow metal. However, the rising dollar capped the gains of the yellow metal. MCX Gold for February 5 expiry traded 0.14 per cent up at ₹76,792 per 10 grams around 9:20 am.
According to Reuters, Israel and Hezbollah exchanged strikes, accusing each other of violating a ceasefire agreement. On Monday, the Israeli military targeted several Hezbollah positions in Lebanon.
Reuters reported that the “fresh Israeli strikes came shortly after Hezbollah accused Israel of violating a ceasefire agreement and fired missiles on an Israeli military position in the disputed Shebaa Farms area.”
Gold prices tend to gain during geopolitical uncertainties.
On the other hand, the dollar’s rise against its global peers weighed on gold prices. Gold is priced in the US dollar globally, so when the US currency gains, it makes gold expensive in other currencies, denting its demand.
