Gold Rises ₹1,182 on MCX Amid Expectations of Higher US Inflation

Gold and silver futures rose on the Multi Commodity Exchange (MCX) on Wednesday as investors awaited key US inflation data. The benchmark October gold contract opened at ₹1,54,947 per 10 gram, up ₹1,182 from the previous close of ₹1,53,765.

The continued buying by central banks and investment demand also supported gold prices. On Comex, gold was trading near $4,475 per ounce, while silver was around $66 per ounce.

Silver futures on MCX opened at ₹2,37,973 per kg, up ₹2,314 from the previous close of ₹2,35,659. Gold and silver prices had touched their highest levels for the year at ₹1,80,779 and ₹4,20,048 per kg, respectively.