Commodities
Gold Futures Soar on Firm Global Trends, Rising to Rs 1.43 Lakh
Gold futures rose Rs 682 to Rs 1.43 lakh per 10 grams in futures trade on August 4, supported by firm global trends.
The rise was due to investors awaiting key US economic data for further cues on the Federal Reserve's interest rate trajectory.
Gaurav Garg, Head of Research at Lemonn Markets Desk, said gold edged higher as investors continued to favour the precious metal amid renewed geopolitical tensions in West Asia and ahead of key US labour market data that could provide clues on the Federal Reserve's next interest rate decision.
On the Multi Commodity Exchange, yellow metal contracts for October delivery traded higher by Rs 682, or 0.48 per cent, at Rs 1,43,597 per 10 grams in a business turnover of 725 lots.