Gold Prices Soar on MCX as Global Demand Drives Rally

MCX gold futures surged to a new high of Rs 1.54 lakh per 10 grams on September 3, driven by global demand and shifting US Treasury policies.

The price increase was fueled by four key factors: the anticipated rate trajectory of the US Federal Reserve, the newly announced US Treasury buyback operations, the weakening dollar yield, and institutional investors' aggressive rotation into bullion.

As a result, silver prices also rose significantly, gaining Rs 3,213 to trade at Rs 2.39 lakh per kilogram.

The dual metal rally has a major impact on consumer markets, particularly in countries that heavily import gold and silver.