Commodities
Gold Prices Surge Amid Safe-Haven Demand and Global Economic Uncertainty
Gold and silver prices rose in early trade on August 27, driven by safe-haven demand and global economic developments. COMEX gold futures increased by 0.65% to $4,683.70 per ounce around 02:50 GMT, while silver climbed 1.57% to $69.09 per ounce.
The domestic market saw MCX gold for the October contract close 0.42% lower at Rs 1,59,000 per 10 grams on August 26, and MCX silver for the September contract decline 0.27% to Rs 2,39,000 per kg.
According to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, gold continues to find support from safe-haven demand and broader macroeconomic uncertainty. However, analysts have also flagged the possibility of profit booking after gold's strong August rally.