Home / Business and Economy / MCX Gold, Silver Surge Over 1% Amidst Global Optimism
MCX Gold, Silver Surge Over 1% Amidst Global Optimism
11 Aug
Summary
- MCX gold futures climbed to ₹1,55,124 per 10 grams.
- MCX silver futures rose to ₹2,39,400 per kg.
- Prices surged over 1% due to a declining US dollar.
Precious metals saw a notable increase in value on Tuesday, August 11, 2026, as MCX gold and silver futures both jumped by over 1%. Gold's October futures reached ₹1,55,124 per 10 grams, while silver's September futures ascended to ₹2,39,400 per kg. This rally in precious metals prices is closely linked to a weakening US dollar, which typically makes gold and silver more affordable for investors holding other currencies. This dynamic often spurs demand for safe-haven assets.
Simultaneously, crude oil prices maintained a position near $88 per barrel. This sustained price level for oil is attributed to persistent concerns surrounding a potential US-Iran deal. Such an agreement could have significant implications for global oil supply routes, particularly concerning the Strait of Hormuz, a critical chokepoint for oil transportation.
