Gold Breaks Above ₹1.60 Lakh on MCX as International Spot Tops $4,500
Weaker US dollar, lower Treasury yields and central‑bank buying pushed investors into gold, creating upward pressure on domestic futures and retail rates.
Overview
- MCX October gold futures traded above ₹1.60 lakh per 10 grams on Friday, Aug 21, with the contract near ₹1,60,857 and intraday gains of about 0.8–1.0 percent.
- International spot gold climbed above $4,500 per ounce, with Reuters reporting levels around $4,562, which supported the domestic rally.
- Market participants and reports cited a weaker dollar, falling US yields and continued central‑bank purchases as the main global drivers lifting safe‑haven demand for gold.
- Domestic forces including seasonal jewellery buying, stronger physical demand and fresh speculative positions in futures amplified the price move and widened retail premiums.
- Retail 24K rates in major Indian cities moved above ₹1.60 lakh per 10 grams and consumers should compare final jewellery prices because making charges, GST and margins vary by seller.