On the Multi Commodity Exchange (MCX), gold futures for August delivery climbed 0.55 per cent to Rs 1,49,750 per 10 grams at 11:20 am on an intraday basis. The rise came after sustained pressure on bullion prices due to fears of tighter monetary policy in the United States.
According to the latest market rates, 24-karat gold in Mumbai was priced at Rs 1,50,184 per 10 grams, compared with Rs 1,47,389 previously. The increase reflected stable trends in the precious metals market amid ongoing global economic developments.
Meanwhile, 22-karat gold prices in Mumbai also registered gains, rising by Rs 258 to Rs 1,37,568 per 10 grams from the previous level of approximately Rs 1,37,310.
In the national capital, gold prices also recorded marginal movement. The price of 24-karat gold in Delhi stood at Rs 1,50,034 per 10 grams, while 22-karat gold was priced at Rs 1,37,431 per 10 grams.
At the same time, Indian equity markets opened strongly in positive territory after remarks by United States President Donald Trump eased concerns over escalating global tensions. Market sentiment improved following reports that Trump had cancelled plans to launch a strike on Iran, while declining crude oil prices further supported investor confidence.
Buoyed by favourable global cues, benchmark indices surged during early trading. The Sensex advanced by as much as 1.35 per cent, or nearly 1,000 points, reaching an intraday high of 74,834. The Nifty also gained significantly, rising 1.26 per cent, or around 300 points, to touch 23,455.
Sector-wise, all major indices traded in positive territory. Nifty Realty emerged as the strongest performer, advancing 2.51 per cent, followed by Nifty Auto, which gained 1.79 per cent. Nifty Private Bank and Nifty PSU Bank indices rose 1.29 per cent and 1.45 per cent, respectively. Other sectors posting notable gains included media, chemicals, consumer durables, oil and gas, and cement.
The simultaneous rise in bullion prices and equities underscored the impact of global economic and geopolitical developments on Indian financial markets. Improved investor sentiment, easing concerns over international tensions, and supportive global indicators contributed to a strong trading session across key asset classes.
About The Author
.jpg)
Comment List