Gold, Silver Prices Surge on MCX Amid Geopolitical Uncertainty

Gold and silver prices rose on the Multi Commodity Exchange (MCX) on August 12, tracking firm global bullion prices amid geopolitical uncertainty, higher oil prices, and US interest rate expectations.

MCX gold futures for October delivery were trading 0.66% higher at ₹1.54 lakh per 10 grams, while September silver futures rose 1.50% to ₹2.39 lakh per kilogram.

Darshan Desai, CEO of Aspect Bullion & Refinery, said that both metals remain firmly supported due to strong investor confidence in precious metals and physical demand remains healthy despite elevated prices.

However, Desai cautioned that some near-term consolidation and profit-booking cannot be ruled out after the sharp rally in bullion prices.