Commodities
Gold Prices in India Surge to ₹1,45,750 per 10 gm Amid Strong International Bullion Market Gains
Gold prices in India surged on August 5, reaching new highs across various major jewellers. The price of 24 carat gold rose by ₹1,750 to ₹1,45,750 per 10 gm, while 22 carat and 18 carat gold gained ₹1,600 and ₹1,310 respectively.
The prices were influenced by strong gains in the international bullion market. On the MCX, gold October futures traded 1% higher at ₹1,45,746 per 10 gm. The dollar index (DXY) was down 0.04%, making dollar-priced bullion cheaper for holders of other currencies.
The labour market in the US remained steady despite a decline in job openings in the healthcare and social assistance sector. Market participants are awaiting the ADP employment report, which could offer cues on the Federal Reserve's next interest rate move.