GLOBAL GOLD PRICES SURGE TO RECORDS, INDIA TRAILS BEHIND

Published on Aug 20, 2024 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.