Iran Crisis Fuels Gold Surge: MCX-COMEX Eyes New Highs Amid US Tensions

• Rising US-Iran tensions and ongoing protests in Iran are driving increased demand for gold as a safe-haven asset.
• Experts predict a gap-up opening for gold prices on Monday, with potential to hit 142,000 rupees on MCX and $4,550 per ounce on COMEX.
• MCX gold closed at 138,875 rupees per 10 grams on Friday, showing initial signs of an upward trend.
• Technical analysis indicates strong support for MCX gold at 135,000–137,000 rupees, with resistance at 140,000–142,000 rupees.
• Investors are advised to adopt a 'buy-on-dips' strategy, setting clear targets and stop-losses due to potential geopolitical volatility.

Why It Matters: Geopolitical tensions between the US and Iran are expected to drive a significant surge in gold prices.