New Delhi: Gold prices soared on the Multi Commodity Exchange (MCX) on the day of Akshaya Tritiya, an occasion when buying the yellow metal is considered auspicious. On Friday, May 10, 2024, gold futures maturing on June 5, 2024, reached Rs 72,094 per 10 grams on the MCX.
This was Rs 455 or 0.64% up from the previous close at Rs 71,639 per 10 grams.
The surge in gold prices isn’t confined to domestic markets alone; globally, gold prices also witnessed an upward trend.
Spot gold climbed 0.2% to $2,350.87 per ounce by 0212 GMT, buoyed by recent economic data hinting at a potential interest rate cut from the Federal Reserve.
This momentum propelled gold towards its best week since April 5, with prices up by 2.2% so far this week, according to news agency Reuters.
Comments are closed.