Gold prices cross ₹1L on MCX for first time ever

Gold prices cross ₹1L on MCX for first time ever

Gold prices in India have hit an all-time high, breaching the ₹1 lakh mark on the Multi Commodity Exchange (MCX) for the first time.

The surge comes amid a weak rupee and heightened geopolitical tensions in the Middle East.

Domestic gold futures jumped 2% to touch ₹1,00,403 per 10gm in early trade today.

Israel’s airstrikes on Iran escalate geopolitical tensions

The price hike is largely attributed to Israel’s airstrikes on Iran, which have intensified geopolitical tensions in the Middle East.

Aksha Kamboj, VP of India Bullion and Jewellers Association, said “Gold prices extended their gains following Israel’s airstrikes on Iran earlier today.”