Now Reading: Gold rises Rs 28 on MCX, Delhi bullion at Rs 1.67 lakh
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Gold rises Rs 28 on MCX, Delhi bullion at Rs 1.67 lakh
Gold prices edged higher on August 26, with MCX futures for 24-carat gold gaining Rs 28 to Rs 1,62,910 per 10 grams in early trade. The Delhi bullion market quoted 24-carat gold…
Gold prices edged higher on August 26, with MCX futures for 24-carat gold gaining Rs 28 to Rs 1,62,910 per 10 grams in early trade. The Delhi bullion market quoted 24-carat gold at Rs 1,67,100 per 10 grams, while international spot gold traded at $4,698.90 per ounce.
Retail rates varied across cities: Delhi and Lucknow saw 24-carat gold at Rs 1,63,900 per 10 grams, while Chennai recorded the highest at Rs 1,63,980. The previous session had seen domestic gold futures decline Rs 120 to settle at Rs 1,63,109 per 10 grams amid subdued spot demand.
The All India Sarafa Association reported that 99.9% pure gold had risen Rs 2,700 on Tuesday to Rs 1,67,100 per 10 grams. Market experts attributed the futures decline to weak spot demand, highlighting ongoing volatility in gold prices.
Indian Opinion Analysis
The rise comes amid tensions between Iran and the US, a classic driver for gold as a safe-haven asset. Domestic rates now trade near historic highs, with Delhi bullion above Rs 1.67 lakh per 10 grams. The next trigger is the October MCX futures expiry, which will test whether retail demand can sustain these levels. The Rupee's movement against the dollar also matters: a weaker Rupee makes imported gold costlier, adding upward pressure on local prices. Investors should track the US Federal Reserve's next policy signal, as interest rate decisions directly affect gold's opportunity cost.
Note: The story is dated August 26, 2026, and all figures refer to that future date.
Source: timesnownews.com
This brief was synthesised by AI from the source linked above.
