October 17, 2024 7:02 PM

Gold prices hit record high of ₹76,899 per 10 grams amid global tensions and rate cut speculation

Gold prices in India surged to an all-time high on Thursday, with the Multi Commodity Exchange (MCX) recording a peak of ₹76,899 per 10 grams, driven by global uncertainties and speculation over potential Federal Reserve rate cuts. Analysts attribute the historic rise to a mix of dovish stances from central banks, falling bond yields, and intensifying geopolitical tensions. Ajay Kedia, Director of Kedia Advisory, explained the driving forces behind the gold rally. "MCX gold reached this unpr...