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Gold nears Rs 1.7 lakh as Middle East tensions fuel safe-haven demand

Gold and silver prices extended their rally this week as escalating Middle East tensions boosted safe-haven demand. Gold futures on MCX crossed Rs 1.65 lakh, while silver futures moved toward the Rs 3 lakh mark amid volatility and supply concerns in global commodity markets

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Representational image. File pic

Representational image. File pic

Gold and silver on Saturday maintained their bullish momentum this week as escalating geopolitical tensions in the Middle East spurred safe-haven buying and heightened volatility across the broader commodities basket. 

As reported by news agency IANS, despite intermittent intra-day pullbacks and profit-taking, the trend structure for precious metals remains decisively bullish.

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