Commodities
Gold Prices Surge on Geopolitical Uncertainty, Weaker Dollar
Gold futures have extended their gains for the second straight session on Wednesday, rising by Rs 2,165 to Rs 1.46 lakh per 10 grams on the Multi Commodity Exchange.
The October contract of gold jumped by Rs 2,165, or 1.5%, to Rs 1,46,464 per 10 grams.
Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed the rally to renewed geopolitical uncertainty and a weaker US dollar, leading to increased safe-haven buying among investors.
Ajitabh Bharti, Co-founder & Executive Director at CapitalXB, noted that the Reserve Bank of India's decision to keep its benchmark repo rate unchanged at 5.25% for a fourth consecutive policy meeting suggests policymakers are seeking greater clarity on inflationary impacts.