Gold Hits Record High; Investors Await Fed

Published on Apr 10, 2024 13:55

Gold prices surged to a new all-time high, reaching $2384.5 per ounce, driven by a combination of factors including central bank buying, the uncertain interest rate environment in the US, and ongoing geopolitical tensions. The People`s Bank of China continued to increase its gold reserves in March, adding to the bullish sentiment in the market. Investors are now eagerly awaiting signals from the Federal Reserve`s policy meeting minutes and key inflation data to gauge the potential timing and extent of interest rate cuts. In the domestic market, MCX June bullion futures also climbed, reaching Rs 71709 per 10 grams.