Other Markets - Bullion Markets
Gold shines bright: $2800 milestone reached, India awaits Rs 80k As on : 30-Oct-24  13:22

Gold has broken past the psychological $2800 per ounce, with Indian prices set to reach a record Rs 80,000 per 10 grams as festive buying heats up in the world's second-largest gold market. This rally is further fueled by geopolitical uncertainties around the Middle East and heightened volatility ahead of the US presidential election. The latest JOLTS report showing US job openings at their lowest since 2021 has eased market expectations of aggressive Fed rate hikes, contrasting with prior resilient September data. All eyes are now on key data releases, including PCE inflation, Q3 GDP advance estimates, and payroll numbers, for signals on the Fed's upcoming rate decisions.

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