Commodities
Gold Surges to New Highs Amid Global Economic Uncertainties and Dollar Weakness
Gold prices surged to new highs in India and internationally on August 21, 2026, amid global economic uncertainties. The precious metal has been a safe-haven asset for investors, who are flocking to it due to the weaker dollar and rising tensions between the US and Iran.
The spot gold price was at $4,540.18 per ounce in early trade, while gold futures on the COMEX were at $4,571.20 per ounce. In India, 24K gold was trading at ₹15,928 per gram or ₹1,59,280 per 10 grams.
The MCX Gold (10g) was trading at ₹1,60,040 and up ₹460 from the previous close, indicating an elevated institutional participation in August contracts. The open interest increased by 4.2% week-over-week, suggesting fresh long positions.