Key Highlights
- Gold futures on MCX closed at ₹1,29,599 per 10 gm, a 1.51% increase.
- Prices are approximately ₹2,700 below the record high of ₹1,32,294 per 10 gm.
- Gold prices have risen by 56% year-to-date.
- There is an 87% probability of a 25 basis points rate cut by the US Federal Reserve next month.
- Political uncertainty in the US is contributing to the rise in gold prices.