Commodities
Gold Prices Soar as Investors Flock to Safe-Haven Assets
The price of gold and silver surged in India on August 3, 2026, as investors sought safe-haven assets due to concerns about inflation and geopolitical tensions.
Gold prices rose above ₹1.43 lakh per 10 grams on the Multi Commodity Exchange (MCX), with a high of ₹1.44,370 per 10 grams in Delhi. Silver also gained more than 1% and closed at ₹2,18,000 per kilogram on MCX.
The increase in gold prices was driven by weakness in the US dollar and fall in crude oil prices, which led to easing inflation worries. However, investors are still focused on the Federal Reserve's interest rate forecast, with a 68% chance of a 25 basis points hike in September.