Gold futures on India’s Multi Commodity Exchange (MCX) rose sharply on Tuesday, climbing ₹1,303 to settle at ₹1,612 per 10 grams.
The rebound was fueled by renewed spot demand, which prompted speculators to open fresh long positions on the exchange.
August delivery contracts led the advance, signaling a shift in sentiment after a period of subdued physical buying.
The move marks a notable reversal from the previous session, where prices had dipped amid a noticeable lack of spot demand.
On Friday, MCX gold futures had surged ₹1,952 to ₹1,47,710 per 10 grams, only to retreat the following day as physical interest waned.
Tuesday’s recovery suggests that underlying demand remains resilient despite short-term volatility.