Gold futures on the MCX rose to ₹1.52 lakh per 10 grams on August 10, 2026, supported by robust spot demand and geopolitical concerns. While international prices dipped due to profit-taking, domestic demand remains high. Investors are closely watching upcoming US inflation reports, as these figures could influence interest rate expectations and the future direction of precious metal prices.
Gold prices on the Multi Commodity Exchange (MCX) moved higher on Monday, with futures for October delivery increasing by ₹455 to settle at ₹1,52,275 per 10 grams. This gain occurred as traders increased their positions, betting on sustained physical demand within the Indian market.
The rise in domestic prices contrasts with global trends. International gold futures saw a slight decline, trading near $4,330 per ounce, as investors locked in profits following recent gains in the precious metal. The divergence shows that Indian gold prices are currently being supported by specific regional factors rather than global movements alone.
One major factor keeping gold prices elevated is geopolitical instability near the Strait of Hormuz. When global tensions rise, investors often turn to gold as a safe-haven asset, which helps support prices. Alongside this, strong physical spot demand in India is providing a floor for the metal's price, preventing it from tracking the global dip.
Silver futures on the MCX also trended upward, trading near the ₹2.34 lakh per kilogram mark, reflecting the broader sentiment in the precious metals space.
For investors, the immediate focus is on the US economic landscape. Analysts are preparing for the release of US inflation data, including the Consumer Price Index (CPI) and Producer Price Index (PPI). These reports are critical because they will likely influence the Federal Reserve's approach to interest rates. A higher-than-expected inflation figure could impact the gold market, as it affects the interest rate outlook, which is a key driver for non-yielding assets like gold.
While the current price action is positive, the market remains sensitive to potential profit-taking if prices consolidate after the recent rally. Investors may continue to track the interplay between geopolitical updates and upcoming US economic releases to gauge the next move in gold prices.