Gold and silver prices traded higher on the Multi Commodity Exchange (MCX) on Tuesday, supported by firm global trends and renewed safe-haven demand. At around 9.13 am, MCX gold futures rose 0.69% to ₹1,41,550 per 10 grams, while MCX silver futures gained 0.46% to ₹2,18,760 per kg. The gains came as investors turned cautious amid geopolitical tensions and awaited key US economic data that could influence the Federal Reserve’s interest rate outlook.
In the retail market, gold prices remained largely stable across major Indian cities despite the rise in futures. The price of 24-carat gold hovered around ₹1.40 lakh per 10 grams, while 22-carat gold was quoted at nearly ₹1.29 lakh per 10 grams, with minor variations across cities due to local taxes and making charges. Jewellers said many buyers are closely monitoring daily price movements before making purchases, especially ahead of the festive and wedding season.
Global factors continued to drive sentiment in the bullion market. Rising tensions in West Asia boosted demand for safe-haven assets, while investors also remained focused on upcoming US inflation data for clues on future monetary policy. A softer dollar and expectations of potential interest rate cuts further supported gold prices in international markets, helping domestic futures trade in positive territory.
Market experts believe bullion prices are likely to remain volatile in the coming days as geopolitical developments, currency movements and central bank decisions continue to influence investor sentiment. They said any escalation in global tensions could keep gold well supported, while stronger-than-expected economic data may trigger fresh volatility.
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