MCX gold surges as global markets support rally
Gold prices on the Multi Commodity Exchange (MCX) jumped on Wednesday, supported by gains in the global bullion market and the sharp fall in the Indian rupee, which touched a record low against the US dollar.
MCX gold opened 0.6 per cent higher at Rs 1,30,550 per 10 grams, compared with its previous close of Rs 1,29,759.
"A clean and sustained close above Rs 1,32,300 can propel prices toward Rs 1,34,400– Rs 1,35,500. Immediate support lies near Rs 1,30,000, while the stronger base remains positioned around Rs 1,28,400," analysts stated.