Gold Price Surges Above Rs 1.50 Lakh Per 10 Grams on MCX

The price of gold on India's Multi Commodity Exchange (MCX) has surged above Rs 1.50 lakh per 10 grams, marking a significant increase in the precious metal's value. The MCX Gold October contract opened with a gain of Rs 536 or 0.36 per cent at Rs 1,49,355 per 10 grams against the previous close of Rs 1,48,858.

The price continued to rise throughout the day, touching an intraday high of Rs 1,50,487, which is a gain of Rs 1,629 or 0.09 per cent from the previous day's closing price.

Ponmudi R, CEO of Enrich Money, noted that MCX Gold is trading above Rs 149,500, up 0.40 per cent, consolidating near its recent seven-week high after a sharp breakout earlier this week.