Other Markets - Bullion Markets
Global gold prices surge to records, India trails behind As on : 20-Aug-24  13:43

Gold traded around $2,500 per ounce on Tuesday, holding near record levels as investors flocked to its safe-haven appeal. In India, MCX October gold futures climbed to Rs 71,830 per 10 grams, up Rs 246, though still over Rs 3,000 below their all-time highs. The market is on edge, awaiting Federal Reserve signals on interest rate cuts, with Fed Chair Jerome Powell's upcoming Jackson Hole speech and Wednesday's FOMC minutes expected to provide crucial hints. Meanwhile, global bullion prices continue to break new records, driven by a weakening US dollar and geopolitical tensions, including ceasefire efforts in Gaza.

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