Gold prices on Monday soared by ₹857 to ₹40,969 per 10 gram in futures trade as speculators moved towards safe haven, amid rising tensions in the Middle East.
On the Multi Commodity Exchange, gold contracts for February traded higher by ₹857, or 2.14 per cent, at ₹40,969 per 10 gram with a business turnover of 5,559 lots.
The yellow metal for April delivery traded higher by ₹874, or 2.17 per cent, at ₹41,170 per 10 gram in a business turnover of 530 lots.
Top Iranian commander Qasem Soleimani was killed on Friday in a US strike on Baghdad’s international airport.
US President Donald Trump has warned Iran of “major retaliation” if Tehran carries out any attack against America to avenge the killing of top military commander Qasem Soleimani and hinted at striking its cultural sites.
Globally, gold prices rose 1.67 per cent to $1,578.40 per ounce in New York.