Gold futures jump ₹2,011, breach ₹1 lakh milestone

Gold futures jump ₹2,011, breach ₹1 lakh milestone

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New Delhi

Gold prices soared for the third day in a row on Friday, hitting a new all-time high of ₹1,00,403 per 10 grams. The sharp rise was fueled by a falling rupee and rising tensions in the Middle East, prompting investors to seek safety in gold. On the Multi Commodity Exchange (MCX), the most-traded August gold futures jumped ₹2,011 or 2.04%, reaching a record in early trade. Later, it settled at ₹1,00,145, up ₹1,753, with strong market interest. The October contract also surged to ₹1,01,295 per 10 grams. Globally, gold rose by $41.62 to $3,444.02 per ounce. Analysts say the gains reflect growing demand for safe assets amid geopolitical instability and a weakening rupee, which fell 56 paise to 86.08 per dollar. Mehta Equities' Rahul Kalantri noted the rally was further supported by lower US inflation data, increasing expectations of a potential policy shift by the Federal Reserve.

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