Other Markets - Bullion Markets
International gold soars 33% YTD, hits record $2769.5 As on : 23-Oct-24  13:44

Gold reached a historic high of $2769.5 per ounce, driven by intensifying geopolitical tensions and global economic uncertainties. With gold and the US dollar both up 4% this month, and international bullion futures gaining over 33% year-to-date, the precious metal remains a prime safe-haven asset. In India, gold prices are just shy of Rs 79,000 per 10 grams, continuing a four-month upward trend. With heightened geopolitical risks in the Middle East and US election uncertainties, investors are turning to gold. Monetary easing by major central banks, including recent rate cuts by the PBoC and ECB, has also contributed to the metal's bullish run.

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