Commodities
Gold Prices Climb Amid Global Uncertainty
Gold prices are on the rise on August 17, while silver remains elevated. The MCX October gold futures have gained 0.73% to ₹1,54,590 per 10 grams, and over the previous week, they've risen 0.86%. Gold is being supported by uncertainty in global markets linked to the US-Iran conflict and expectations around US interest rates.
The India Bullion and Jewellers Association data puts 24-carat gold at ₹1,49,621 per 10 grams on Friday. The market has also been influenced by lower US Treasury yields, a weaker US dollar, and volatility in crude oil prices.
Silver rates are also strong, with MCX September silver futures gaining 0.15% to ₹2,36,272 per kg. COMEX silver is trading 0.56% higher at $65.47 per troy ounce.