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Gold futures rise on MCX as December contract gains
Gold futures for December delivery on the Multi Commodity Exchange (MCX) climbed by ₹674, a 0.55% rise, settling at ₹1,23,314 per 10 grams. The contract moved in 10,726 lots during the session.
What this move means
The increase reflects a modest uptick in demand for gold contracts as traders adjust positions ahead of the December expiry. Even a small percentage move can be meaningful in metals markets, where volatility and sentiment often drive short-term trading activity.
Factors that typically influence gold prices
- Global cues: Overseas markets, especially US treasury yields and the dollar, commonly shape domestic gold prices.
- Inflation and interest rates: Expectations about inflation and central bank policy tend to push investors toward or away from safe-haven assets like gold.
- Currency moves: A weaker local currency often makes gold more attractive to domestic buyers.
- Jewellery and investment demand: Seasonal buying, festival demand, or fund flows into ETFs can affect price and volumes.
What investors should watch next
- Price action in the coming sessions for signs of sustained momentum or reversal.
- Global economic indicators and central bank commentary that could affect risk appetite.
- Volume trends on MCX to gauge participation — higher lots usually point to stronger conviction.
For traders and investors, keeping an eye on both domestic volumes and international market signals will help in navigating short-term moves in gold futures.