Gold Prices Soar on Weaker Dollar Amid US Inflation Data Anticipation

Gold prices continued their upward trend on Monday, rising Rs 1,000 to Rs 1,63,434 per 10 grams for October 2026 delivery on the Multi Commodity Exchange (MCX). This marks a fourth consecutive day of gains and an increase of nearly Rs 8,200 over the past four sessions.

The rise in gold prices can be attributed to a weaker US dollar, which has made gold cheaper for buyers holding other currencies. The dollar remained near multi-month lows after the US Treasury's plan to buy back more long-term bonds was announced.

Investors are closely watching key US inflation data and a speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole symposium this week. These events will provide fresh signals on the outlook for US interest rates.