Gold and Silver Prices Gain on Geopolitical Uncertainty

Gold and silver prices gained on the Multi Commodity Exchange (MCX) on August 12, following firm global bullion prices.

The gains in domestic markets came as investors weighed geopolitical uncertainty, higher oil prices, and the outlook for US interest rates.

MCX gold futures for October delivery were trading 0.66% higher at ₹1.54 lakh per 10 grams, while September silver futures rose 1.50% to ₹2.39 lakh per kilogram.

Darshan Desai, CEO of Aspect Bullion & Refinery, said 'Gold and silver continue to remain firmly supported, reflecting strong investor confidence in precious metals.'

Investors are assessing geopolitical risks and awaiting the latest US inflation data for clues on the Federal Reserve's interest-rate path.