Gold prices edged higher on Wednesday, supported by strong global demand and safe-haven buying as market volatility persisted. On the Multi Commodity Exchange (MCX), gold futures for December delivery rose 0.77% to Rs 1,27,227 per 10 grams, extending their recent upward momentum.
The rally in gold follows heightened investor interest driven by Federal Reserve rate cuts, central bank purchases, and increased inflows into exchange-traded funds (ETFs). The combination of these factors has pushed gold to near-record levels this month.
According to analysts, the yellow metal continues to benefit from risk aversion amid trade tensions between the United States and China, as well as concerns surrounding global inflation and liquidity conditions.
On the international front, spot gold traded close to $4,116 per ounce, maintaining its position near an all-time high. With investors shifting towards tangible assets, bullion prices are expected to stay firm in the near term.
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