Gold Futures Soar ₹682 Amid Global Cues and Geopolitical Tensions

Gold prices on the Multi Commodity Exchange surged by ₹682 to ₹1.43 lakh per 10 grams in futures trade on August 4, supported by firm global trends and investors awaiting key US economic data.

The October delivery contracts traded higher at ₹1,43,597 per 10 grams with a business turnover of 725 lots, said Gaurav Garg, Head of Research at Lemonn Markets Desk.

Investors continued to favor gold amid renewed geopolitical tensions in West Asia and ahead of key US labor market data that could provide clues on the Federal Reserve's next interest rate decision, added Garg.

In global markets, Comex gold futures rose marginally to trade at $4,061.58 per ounce in New York, said Manav Modi, Commodities Analyst at Motilal Oswal Financial Services Ltd.