Gold prices surged, gaining over $12 in Comex to reach $2,442 and rising ₹270 in MCX to ₹70,165. The strength in gold is largely driven by escalating Middle East tensions, particularly concerns over a potential attack by Iran on Israel. Geopolitical uncertainties often bolster gold as a safe-haven asset, providing support during such volatile times. In the near term, gold prices are expected to remain in a positive range, with support at ₹69,500 and resistance around ₹70,650. Additionally, the upcoming U.S. CPI data will likely contribute to heightened volatility, as concerns over rising unemployment have increased the likelihood of a rate cut in September.