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Commodities

Gold Price Soars ₹264 on Weaker Dollar and Easing Yields

Guavy AI Editorial Team
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Gold
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The price of gold rose by ₹264 to ₹1.58 lakh per 10 grams on Thursday, following a decline in the US dollar and firm global cues.

On the Multi Commodity Exchange (MCX), October gold futures increased by 0.17% to ₹1,58,260 per 10 grams in a business turnover of 10,450 lots.

Analysts attributed the rise in gold prices to easing US Treasury yields and a weaker dollar, which supported demand for bullion.

Commodities Analyst at Motilal Oswal Financial Services Ltd., Manav Modi, said, 'Gold is hovering above USD 4,500 for the first time since early June as a sharp decline in US Treasury yields and the dollar boosted bullion.'

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