September 16, 2024 3:28 PM

India sees gold demand surge after duty cut as US elections and fed rate cut loom

As global markets brace for potential economic turbulence, the outlook for gold has become increasingly uncertain with the upcoming US elections and possible Federal Reserve (Fed) interest rate cuts, according to the World Gold Council. The global shift towards gold as a hedge against macroeconomic risks is mirrored in India, where uncertainty surrounding the US elections and potential rate cuts has driven up demand for safe-haven assets like gold. This has led to heightened activity in the gol...