Gold Prices Dip Amid Global Tensions, Domestic Futures See Surge

Physical gold prices in India dipped slightly on Tuesday morning, September 8, as global tensions continued to rise. The domestic futures market, however, saw a surge, with October delivery contracts rising by 0.42% to ₹1,53,461 per 10 grams on the Multi Commodity Exchange (MCX).

The minor correction in physical gold prices came despite a climb in global gold prices, driven by rising tensions in the Middle East. US gold futures for December delivery rose by 0.40% to $4,485.84 per troy ounce, supported by a 0.50% fall in the US dollar index to 98.72.

Retail prices for physical gold fell by ₹1 per gram across the country, bringing 24-karat gold of 99.9% purity to ₹15,414 per gram. This variation is mainly due to local market factors and slight differences between cities.