MCX Shares Surge on Weaker Dollar, Regulatory Easing
MCX shares surged 8% in three days to Rs 3,211 as gold and silver futures rose amid a weaker US dollar and easing concerns over long-term yields.
The stock has gained 15% in a month, 45% so far this year, and 101% over the past year. It delivered a staggering 932% return in three years and 970% in five years.
Domestically, MCX silver futures for September 2026 delivery jumped Rs 1,915 to Rs 2,45,158 per kg, while gold futures for October 2026 delivery rose by Rs 1,205 to Rs 1,60,630 per 10 grams. The U.S. dollar was headed for a weekly decline, making dollar-priced commodities more affordable.
HDFC Securities recently reaffirmed its 'Buy' rating on MCX shares, citing regulatory easing that could expand the participant base and broaden product offerings.