Market Performance
Gold prices on the Multi Commodity Exchange surged to a new high of ₹99,178 per 10 grams during the morning session on Tuesday, moving within ₹1,000 of the significant ₹1 lakh mark. This increase follows a notable jump from the opening price of ₹98,753 per 10 grams for the June 2025 gold futures contract.
Internationally, spot gold hovered around $3,482 per ounce, while the COMEX gold price reached approximately $3,495 per troy ounce. The US Dollar Index was 97.86, down 0.19% from the previous close.
Main News
The steep increase in gold prices is driven by global economic instability and fluctuations in currency markets.
A key factor influencing the trend is the ongoing disagreement between US President Donald Trump and Federal Reserve Chair Jerome Powell concerning US interest rate policies. This dispute has coincided with a decline in the US dollar to a three-year low.
The weakening dollar, a typical gold demand driver, has further boosted investor interest in the precious metal. Additionally, geopolitical and economic issues such as ongoing US-China trade concerns and the potential risk of a broader global economic slowdown have contributed to market sentiment.
Summary
The MCX gold rate surged to a record high of ₹99,178 per 10 grams amid a decline in the US dollar and political friction over monetary policy in the United States. The global gold market also strengthened, with COMEX prices nearing $3,500 per ounce. Rising demand, ongoing trade tensions, and macroeconomic uncertainty are key elements behind the surge, pushing gold closer to the symbolic ₹1 lakh milestone.
