Gold prices surpass ₹1.63 lakh amid geopolitical tensions
Gold prices on MCX crossed ₹1.63 lakh, driven by geopolitical tensions and a weaker rupee. The Indian government's hike in import duty to 15% may push local prices higher, impacting demand amid ongoing volatility in global markets.
pre-market1 source ↓written by the desknot a recommendation
- as geopolitical tensions
- ₹1.63 lakh
- is expected
- 15%
- per ounce
- $4,700-$4,730
Gold prices surged on the Multi Commodity Exchange (MCX), crossing ₹1.63 lakh as geopolitical tensions and a record low rupee fueled safe-haven buying. The Indian government's increase in import duty on gold and silver to 15% is expected to further elevate local prices, impacting domestic demand.
• MCX Gold opened sharply higher, breaking out of a consolidation range.
• COMEX Gold trades near $4,700-$4,730 per ounce.
Market participants anticipate continued volatility in international bullion prices.
Not investment advice. For informational purposes only.