Gold Surges: Spot Price Up 2.42% Weekly, Futures Rise Amid Geopolitical Tensions
Business
M
Moneycontrol•06-01-2026, 09:16
Gold Surges: Spot Price Up 2.42% Weekly, Futures Rise Amid Geopolitical Tensions
- •Spot gold price reached $4,451/ounce, marking a 0.06% daily gain and a 2.42% increase over the past week.
- •MCX gold futures for 24-Carat purity opened at INR 1,38,578/10 grams, up 0.23% from its previous close.
- •The rupee declined to 90.135 against the U.S. dollar, down 0.08% daily and 0.41% weekly.
- •Gold prices vary slightly by purity and city due to local taxes, jeweller margins, and logistics costs.
- •Rising geopolitical tensions and upcoming US economic data are driving gold's momentum, despite a 35-40% drop in sales.
Why It Matters: Gold prices are climbing due to global uncertainties and economic data, impacting sales.
✦
More like this
Loading more articles...
