Gold Price Today: Yellow metal surges to record high | Business News
The yellow metal opened at Rs 66,100 per 10 gm on the back of US Federal Reserve’s decision to keep interest rates steady at 5.25-5.5 per cent.
Soon after trading opened on Thursday, gold price surged to a record high of 66,778 per 10 gram on Multi Commodity Exchange (MCX) futures for April 2024 expiry. The yellow metal opened at Rs 66,100 per 10 gm on the back of US Federal Reserve’s decision to keep interest rates steady at 5.25-5.5 per cent.
Spot gold prices climbed to a record high as the U.S. dollar and bond yields ticked lower soon after Fed Chair Jerome Powell maintained its projection of three rate cuts for this year. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar.
You have exhausted your
monthly limit of free stories.
Read more stories for free
with an Express account.
Now subscribe at a special discount of 15% Use Code: ELECTION15
This premium article is free for now.
Register to read more free stories and access offers from partners.
Now subscribe at a special discount of 15% Use Code: ELECTION15
This content is exclusive for our subscribers.
Subscribe now to get unlimited access to The Indian Express exclusive and premium stories.
Spot gold was up 2.07 per cent at $2,205.80 per ounce after hitting an all-time high of $2,222.39 earlier in the session. Silver, on the other hand, advanced 2.83 per cent at $25,815 per ounce.
Sponsored | Empowering Leadership through AI Integration: Catalysing Business Transformation
© IE Online Media Services Pvt Ltd
First uploaded on: 21-03-2024 at 11:25 IST
