Domestic gold futures rose nearly 2% during last week to close at Rs 1.54 lakh per 10 grams, while MCX silver gained 1.9% to Rs 2.35 lakh per kg. Internationally, Comex gold advanced nearly 1% and silver rose 2.5%.
Gold’s recent gains also brought profit-booking at higher levels, with MCX gold having risen nearly 9.5% in August. Market participants were focused on US economic data, inflation figures from major economies, Federal Reserve policy signals, developments in the Middle East and US-Iran tensions over the Strait of Hormuz.
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