New Delhi, June 18 -- Gold prices have been caught in a strong bull run this year, supported by multiple factors-including a weaker US dollar, expectations of rate cuts by the Federal Reserve, and recession fears triggered by US-imposed global tariffs.

In India, where gold has crossed the Rs.1,00,000 per 10 grams mark, the rally gained fresh momentum amid renewed geopolitical tensions between Iran and Israel. Although prices have eased slightly from record highs, they remain elevated and are poised to close higher for a sixth consecutive month.

The US market shows a similar trend. Spot gold prices in the US closed higher for the fifth month straight in May, a streak last seen in May 2017.

The yellow metal is already up over 3% in June,...