Gold rates today: Gold prices has been on a bull run amid easing crude oil prices and receding inflation concerns supported bullion demand. However, a stronger US dollar and expectations of another Federal Reserve interest rate hike limited further gains in international markets.
On the domestic front, MCX gold futures for December delivery were quoted at ₹1,43,129 per 10 grams, up ₹577 or 0.4%, according to the latest available market data. On Monday, the contract opened at ₹1,43,562 and touched an intraday high of ₹1,44,400 in the previous session.
The recovery in gold prices comes after a sharp correction in October, with investors assessing whether the recent rebound can sustain itself.
The recent recovery in gold prices has been supported by easing crude oil prices, which have helped reduce concerns about inflation and the possibility of prolonged restrictive monetary policy by global central banks.
Crude oil prices declined sharply after US President Donald Trump played down the possibility of fresh military strikes against Iran, raising hopes of progress in diplomatic efforts. Lower energy prices have eased inflationary concerns, potentially giving central banks greater flexibility on interest rates.