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Gold futures rise nearly 3% on MCX in weekly gain
Gold futures for the February 2026 contract on the Multi Commodity Exchange (MCX) climbed by ₹3,654, or 2.9%, over the past week to close at ₹1,29,504 per 10 grams on Friday. The move marks a noticeable uptick after recent consolidation in bullion markets.
What contributed to the jump?
- Safe-haven demand: Investors often turn to gold during periods of uncertainty, which can push futures higher.
- Currency moves: A weaker rupee typically supports local gold prices, making imports costlier and lifting domestic futures.
- Global cues: Trends in international bullion prices, influenced by interest-rate expectations and inflation data, tend to feed into MCX contracts.
What investors should watch next
- Near-term data on inflation and central bank guidance, which can alter appetite for non-yielding assets like gold.
- Rupee fluctuations and import demand from jewellers and industry in India.
- Open interest and volume on MCX to gauge whether the rise is backed by fresh buying or short-covering.
Quick takeaways
The February 2026 gold futures contract has posted a clear weekly gain, closing at ₹1,29,504 per 10 grams. Continued movement will likely hinge on macroeconomic signals, currency trends, and physical demand in the coming sessions.