Gold Prices Jump in India Amid Global Bullion Surge

Gold prices in India rose across major cities on Monday, July 27, tracking gains in global bullion markets. The price of gold futures on the MCX increased by 0.51% to Rs. 144,520 per 10 grams, while silver futures gained 1.01% to Rs. 225,120 per kg at around 9:07 a.m.

The domestic market mirrored strong global developments, with spot gold rising by 1.4% to reach $4,110.56 per ounce and US gold futures increasing by 1% to reach $4,112.10 per ounce by 0200 GMT.

The rally came amid reduced fears of rising inflation due to falling oil prices and easing tensions in the Middle East region before the Fed's rate decision. A 0.3% decline in the US dollar index also made gold more affordable for overseas buyers.