New Delhi, June 14 -- Gold prices on the Multi Commodity Exchange (MCX) surged past the Rs.1 lakh-mark on Friday, driven by robust safe-haven demand following a sharp escalation in geopolitical tensions between Israel and Iran. Renewed conflict in the Middle East, expectations of interest rate cuts, and a risk-off sentiment across financial markets collectively contributed to the rally in the yellow metal.

MCX gold rate settled 0.04% higher at Rs.1,00,314 per 10 grams after touching an intraday high of Rs.1,00,681. Meanwhile, MCX silver prices declined marginally by 0.02% to Rs.1,06,474 per kg, after hitting a high of Rs.1,06,940 during the session.

In the international market, spot gold price surged 1.3% to $3,428.10 an ounce, inching ...