Gold Prices Soar to ₹1.44 Lakh Amid Weak Dollar and Easing Tensions

Gold prices rose to ₹1.44 lakh per 10 grams on Monday as a weak US dollar in overseas markets and easing geopolitical worries boosted demand in physical markets.

The Multi Commodity Exchange saw gold contracts for August delivery trade higher by ₹984, or nearly 1%, to ₹1,44,090 per 10 grams in a business turnover of 591 lots.

On the domestic front, gold futures for August delivery rose by ₹2,200, or 1.6%, to close at ₹1.43 lakh per 10 grams during the last week.

Gaurav Garg, Research Analyst at Lemonn Markets Desk, said 'Gold prices rose on Monday as investors increased buying following a temporary pause in Washington-Tehran hostilities and ahead of this week's US Federal Reserve interest policy decision.'