Gold Price Surges to ₹1.49 Lakh as Global Markets Rally Amid Improved Sentiment

The gold price in India hit ₹1.49 lakh per 10 grams as MCX Gold prices surged globally due to improved market sentiments and robust international demand for safe-haven investments. The spot gold climbed to $4,285.84 per ounce, a seven-week high, while US gold futures rose by 0.9% to $4,345.80 per ounce. The domestic price of 24K gold was up by ₹289 per gram and the price of 22K was up by ₹265 per gram.

The strong rally in international markets was mirrored in Indian bullion prices, with gold recording gains for the fourth consecutive trading session. The improved market mood was attributed to the depreciation of US dollars and bonds, making safe-haven investments more attractive. However, investors are advised to watch out for Fed policy and inflation trends before making any investment decisions.