DOMESTIC BULLION HITS RECORD ₹76000, GLOBAL GOLD NEARS $2700 ON FED EASING HOPES

Gold soared close to $2700 per ounce in electronic trades on Wednesday, reaching new record highs as expectations of further monetary easing and escalating geopolitical tensions drove demand for the safe-haven asset. Domestically, MCX October bullion futures touched a fresh lifetime high of ₹76,000 per 10 grams. The People�s Bank of China also announced its largest stimulus package since 2020, further highlighting global economic uncertainties. Rising violence in the Middle East is adding to gold�s allure, strengthening its safe-haven status. A sharper-than-expected drop in US consumer confidence bolstered a dovish outlook for the Federal Reserve, reinforcing the potential for another rate cut. Investors now await key economic data, including the PCE inflation report, for further cues.

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