India, May 4 -- Gold prices dipped on Monday as markets reacted to the rising geopolitical tensions in the Middle East. Fresh Hormuz tensions attributed to conflicting reports of Iranian attack on U.S. warships lifted crude oil prices, the safe haven dollar and dragged down prices of the yellow metal.
The spike in geopolitical tensions and a stronger dollar weighed on gold prices in Monday's trade. The Dollar Index which measures the strength of the dollar against a basket of six currencies is almost 0.25 percent higher in the day's trading. It is currently trading at 98.40 after ranging between 98.01 and 98.48.
For comments and feedback contact: editorial@rttnews.com
Published by HT Digital Content Services with permission from RTT News...