MCX Gold, Silver Prices Surge Amid Geopolitical Uncertainty

Gold and silver prices rose on MCX amid geopolitical uncertainty, higher oil prices, and US interest rate expectations. On August 12, gold futures for October delivery traded 0.66% higher at ₹1.54 lakh per 10 grams, while September silver futures gained 1.50% to ₹2.39 lakh per kilogram.

The gains in domestic bullion markets came as global gold and silver prices moved higher, with Brent crude trading above $90 a barrel and US crude above $83 a barrel. Gold's safe-haven demand remained strong amid renewed geopolitical tensions, while silver benefited from its industrial-demand outlook.

Investors are closely watching the US consumer price index data due on August 12 for clues on the Federal Reserve's interest-rate path. A softer inflation reading could support easier monetary conditions, while a stronger-than-expected reading may support a more cautious rate outlook.