Gold and silver prices on India’s Multi Commodity Exchange (MCX) opened higher on Tuesday, reversing a recent downturn as global bullion markets gained momentum.
The August gold futures contract climbed toward ₹1.41 lakh per 10 grams, while silver also posted gains, reflecting renewed investor appetite for precious metals after prices had dipped to a two-week low earlier in the session.
The rally comes as markets brace for key US inflation data, which is expected to influence Federal Reserve policy expectations.
Simultaneously, escalating tensions between the US and Iran have pushed crude oil prices higher, reinforcing the case for safe-haven assets.
The combination of macroeconomic uncertainty and geopolitical risk has driven investors to buy at lower levels, supporting the upward trajectory of both gold and silver.
This move follows a period of sustained strength in Indian precious metals markets.