Gold Prices Soar ₹2,165 Amid Safe-Haven Demand and Weaker Dollar

Gold futures surged by ₹2,165 to hit ₹1.46 lakh per 10 grams on the Multi Commodity Exchange (MCX) as safe-haven demand and a weaker US dollar fueled a global bullion rally.

The October gold contract climbed ₹2,165, or 1.5%, to ₹1,46,464 per 10 grams, while silver prices remained firm due to improving global sentiment and sustained investor interest in precious metals.

Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed the rally to increased safe-haven buying amid renewed geopolitical uncertainty and a softer US dollar.

The Reserve Bank of India (RBI) kept the benchmark repo rate unchanged at 5.25% for the fourth consecutive Monetary Policy Committee meeting, with policymakers seeking greater clarity on inflation risks stemming from higher energy prices.