Commodities
Gold Prices Surge Amid Global Uncertainty
Gold prices surged on August 17 as investors sought safe-haven assets amid global uncertainty. The ongoing US-Iran conflict and expectations of lower US interest rates contributed to gold's rise.
MCX October gold futures gained 0.73% to ₹1,54,590, while gold prices rose 0.86% over the previous week. The India Bullion and Jewellers Association data put 24-carat gold at ₹1,49,621 per 10 grams on Friday.
The market is also supported by lower US Treasury yields, a weaker US dollar, and volatility in crude oil prices. Indian equities, however, were set for a subdued start as mixed Asian markets and global geopolitical uncertainty weighed on sentiment.