MCX Gold nears Rs 154K mark amid sustained uptick

COMEX gold moved above $4800 mark as mixed equities clubbed with sustained inflationary worries boosted the metal. Currently, the counter is quoting at $4826 an ounce, up 0.37% on the day. ECRI has stated that a global inflation cycle upturn is underway beyond oil, with price pressures broadening across major economies, challenging central bank assumptions and rate-cut expectations. It also noted that a synchronised global inflation upturn is underway beyond oil effects. MCX Gold futures are trading at Rs 153989 per 10 grams, up 0.55% on the day, quoting near days high.

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