Gold futures jump ₹1,432 to ₹1.60 lakh/10 gm on fresh buying
Gold futures on the MCX climbed ₹1,432 to ₹1.60 lakh per 10 grams, driven by fresh speculative positions and firm physical demand. The October contract traded at ₹1,60,857.
Gold Market
Gold futures on the MCX climbed ₹1,432 to ₹1.60 lakh per 10 grams, driven by fresh speculative positions and firm physical demand. The October contract traded at ₹1,60,857.
MCX shares jumped over 4% as gold, silver and copper futures rose after a US Treasury liquidity support announcement. The stock has returned around 900% in three years.
Gold extended its gains for a third straight session on Wednesday, supported by easing fears of a US rate hike and a weaker dollar. Investors now await the Federal Reserve’s policy minutes for further direction.
Gold prices slipped on the Multi Commodity Exchange (MCX) on Tuesday even as international benchmarks extended gains. The divergence came as traders toned down expectations of an aggressive US Federal Reserve rate hike.