The war between Israel and Iran has created a lot of tension in the Middle East. Iran is continuously launching missile attacks on the cities of the Middle East. Israel and America have launched several attacks on Iran. Iran’s Supreme Leader Khamenei has been assassinated, but there is still no hope of ending the hostilities. Due to this war, there has been a huge rise in the prices of gold and silver. In the multi-commodity market, the price of 10 grams of gold increased by ₹4,641 to ₹1,66,745, which is an increase of 2.86 percent. Silver prices have also increased by ₹ 8,000 or 2.67 percent and are trading at ₹ 2.91 lakh per kg.
Gold and silver rates in Delhi-Mumbai market
On the morning of March 2, the price of 24 carat gold in the capital Delhi reached ₹ 1,73,240 per 10 grams. Its price in Mumbai has reached ₹ 173,090 per 10 grams. The price of 24 carat gold has increased by ₹9,430 in just one week. The price of 22 carat gold has increased by ₹8,550.
International Market Rates
There has been a sharp rise in the prices of gold and silver in the international market also. Gold rose more than 2 percent to $5,390 an ounce in early trade on Monday. The spot price of silver also rose more than 2 percent to about $93.76 per troy ounce (USD).
Crude oil prices may reach $100
Crude oil prices increased by more than 10 percent on Monday. Now experts say prices could reach $100 per barrel. Experts say that in the short term, we can expect serious disruptions in oil supply and the global supply chain, due to which Brent crude prices could reach $90-100 per barrel.
Huge decline in stock market
The thing to note is that due to the war there is chaos in the stock market also. The Sensex has fallen more than 1,000 points, and the Nifty is trading down 300 points. A huge decline is also being seen in other Asian markets. Japan’s Nikkei fell 225, 874.07 points and opened at 57,976.20. China’s Shanghai Composite Index fell 11.08 points (-0.27%) to 4,151.80. Hong Kong’s Hang Seng index fell more than 2% in early trade.
