Gold prices surge past ₹1.63 lakh amid global tensions
after close1 source ↓written by the desknot a recommendation
- due to geopolitical
- ₹1.63 lakh
- is expected
- 15%
Gold prices rallied on the Multi Commodity Exchange (MCX), surpassing ₹1.63 lakh due to geopolitical tensions and a record low rupee. The Indian government's increase in import duty on gold and silver to 15% is expected to further elevate local prices, impacting safe-haven demand.
Market analysts note that the rise in import duty will increase the landed cost of bullion, intensifying price movements in the domestic market.
Not investment advice. For informational purposes only.