New Delhi, March 20 -- Gold prices on the Multi Commodity Exchange (MCX) saw a significant increase on Friday, March 20, with the April contract climbing by Rs.1,914, or 1.32%, reaching Rs.1,46,868 per 10 grams.

The uptick in domestic prices was primarily influenced by a rise in market sentiment, following a reduction in geopolitical tensions in West Asia, especially after hints that the US might ease sanctions on Iranian oil, which could enhance global supply and lower risk premiums.

Analysts mentioned that diminished concerns about potential disruptions to critical energy infrastructure in the Middle East have decreased safe-haven demand, facilitating a technical recovery in prices.

In the global market, gold prices increased slightl...