Gold shines on softer dollar; prices rise over 0.7 pc on MCX

New Delhi, Oct 20: Gold prices rose on Monday morning on the Multi-Commodity Exchange (MCX), supported by strong spot demand and a weaker US dollar.

During the early trade, MCX Gold December futures were trading 0.78 per cent higher at Rs 1,28,005 per 10 grams, while Silver December contracts gained 0.41 per cent to Rs 1,57,240 per kg. The recovery in gold came after a steep fall in the previous session, as global investors had booked profits following US President Donald Trump’s comments on China tariffs.

His remarks pushed traders to shift from safe-haven assets like gold to riskier investments. In the international market, gold prices climbed to $4,255 per ounce on Monday after a sharp decline on Friday.

Experts said the focus has now turned to the upcoming talks between the US and China. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are scheduled to meet this week, with Trump expressing optimism that the discussions could lead to an agreement.