Gold futures rise to Rs 1.53 lakh per 10g amid firm global trends

New Delhi: Gold prices rose Rs 159 to Rs 1.53 lakh per 10 grams in futures trade on Friday in a volatile session amid firm trends in international markets.

The yellow metal for June delivery gained Rs 159 to Rs 1,53,311 per 10 grams on the Multi Commodity Exchange.

Analysts said gold edged higher amid a weaker US dollar and easing geopolitical tensions.

"Gold traded with moderate gains on Friday supported by a weaker US dollar and easing geopolitical concerns," Hareesh V, Head of Commodity Research, Geojit Investments Ltd, said.

Expectations of a potential settlement between the US and Iran have helped reduce tensions, which could ease global inflationary pressures, he added.

"This combination of softer currency and improving geopolitical outlook has provided gold with a steady upward push, reinforcing its role as a safe-haven asset in uncertain times," Hareesh said.

In the international market, Comex gold for the June contract edged higher to trade at USD 4,814.11 per ounce.

Gold prices rose on Friday bolstered by hopes surrounding US-Iran talks that could ease geopolitical tensions, Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.

On the outlook, Renisha Chainani, Head of Research at Augmont, said, "If gold prices sustain above USD 4,850 per ounce in global markets, amounting to Rs 1.55 lakh per 10 grams in the domestic markets, the next upside would be USD 5,000 per ounce or Rs 1.60 lakh per 10 grams."