Gold Prices Soar on MCX Amid Fresh Speculative Interest

Gold futures on the Multi Commodity Exchange (MCX) shot up by ₹1,432 to ₹1,60,857 per 10 grams on Friday, driven by fresh speculative interest. The surge in bullion prices has also boosted shares of exchange operator MCX, which gained 8% over the last three trading sessions.

The rally in gold futures for October delivery reached ₹1,60,857 per 10 grams on MCX this Friday, marking a rise of ₹1,432. This price shift reflects increased activity as investors and speculators established new positions, indicating confidence in sustained demand for the precious metal.

The domestic rally aligns with broader international trends, where gold futures are trading firmly above the $4,500 per ounce level. A weakening US dollar and recent updates regarding US Treasury debt buybacks have supported this global upward momentum. When the dollar weakens, gold often becomes more attractive to global investors, providing a tailwind for prices in local markets.

Higher trading volumes and market volatility typically benefit the exchange operator’s business potential, which is reflected in MCX shares climbing approximately 8% over the past three trading sessions to touch ₹3,211 by Friday.