Gold prices climbed early on Monday in India’s Multi‑Commodity Exchange (MCX), giving traders a quick boost after last week’s drop. The move was helped by strong spot demand and a weaker U.S. dollar.
On the exchange, MCX Gold December futures were up 0.78 % to ₹128,005 per 10 grams. Silver also gained, trading 0.41 % higher at ₹157,240 per kilogram.
The rally follows a sharp decline the day before, when investors rushed to book gains after former U.S. President Donald Trump warned about China tariffs. His comments coaxed traders away from safe‑haven gold and toward riskier assets.
Worldwide, gold hit $4,255 per ounce on Monday after falling on Friday. Analysts say the focus now is on a meeting between the U.S. and China this week. U.S. Treasury Secretary Scott Bessent and Chinese Vice‑Premier He Lifeng are set to talk, and Trump has expressed hope that the talks could end the tariff stalemate.
Gold saw a steeper sell‑off on Friday, with MCX futures down 2 % to ₹127,320 per 10 grams and U.S. gold futures falling more than 2 % to $4,213.30 per troy ounce.
Over the past year, the domestic spot gold market has risen by more than 70 %. Analysts say the price jump reflects global uncertainty, strong central‑bank buying, expectations of interest‑rate cuts in the U.S., and growing inflows into gold ETFs.
Experts believe gold will keep its support as long as geopolitical tensions linger and the dollar stays weak. “Uncertain U.S. economic data keeps investors looking for safe‑haven gold,” they said. “When risk appetite remains low, prices are likely to stay high.”
Source: ianslive
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