MCX gold tops ₹1.44 lakh per 10g as Iran tensions lift bullion
MCX August gold futures rose ₹1,542, or 1.08%, to ₹1,44,301 per 10 grams, while September silver gained ₹2,554 to ₹2,26,333 per kg. The spike could raise procurement costs and pricing pressure for Indian jewellery retailers.
Gold and silver futures rose sharply on MCX after renewed US-Iran strikes heightened geopolitical and inflation concerns. Higher bullion prices are relevant to Indian jewellery retailers, potentially affecting inventory costs, pricing and consumer demand.
Why this matters
MCX recently widened its domestic refiner pool to seven and revised delivery norms, while silver import licensing and duty hikes raised jewellers' input costs. The latest bullion surge adds fresh procurement pressure.
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