Gold price today, June 16 -- Gold rates hit a record high of Rs.1,01,078 in the domestic futures market Monday (June 16) morning as escalating tensions between Israel and Iran supported safe-haven demand. However, the dollar's rise and tepid spot market demand capped gains for the yellow metal, with investors' focus shifting to the US Fed policy outcome this week on June 18. MCX Gold August 5 contracts traded flat at Rs.1,00290 per 10 grams around 10:20 AM.

Israel and Iran have launched fresh attacks on each other, raising concerns that the conflict in the Middle East could spiral into a major geopolitical crisis.

US President Donald Trump believes that a peace agreement between Israel and Iran is possible, but the two sides may need to...