Gold Dips on MCX Amid Rupee Strength, Comex Prices Gain 2% This Week
Business
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Moneycontrol•08-01-2026, 09:49
Gold Dips on MCX Amid Rupee Strength, Comex Prices Gain 2% This Week
- •MCX gold futures fell 0.2% to Rs 1,37,735 per 10 grams, despite Comex spot prices gaining over 2% this week.
- •Comex spot gold stood at $4,444.46 an ounce, down 0.27% from its previous close but up 2.19% weekly.
- •Rupee strengthened to 89.861 against the US dollar, limiting domestic gold gains, according to Jateen Trivedi.
- •Gold prices vary across Indian cities due to local taxes, margins, and logistics costs.
- •Upcoming US economic data (ADP non-farm employment, payrolls, jobless claims) expected to add volatility to gold prices.
Why It Matters: MCX gold dipped due to rupee strength, contrasting with Comex gains, with future volatility expected from US data.
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