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Gold price today: MCX Gold rate rises with Fed Chair Jerome Powell’s comments, Middle East tensions in focus | Stock Market News
Source: Live Mint
Gold price today: Gold rates rose in the domestic futures market Monday morning, with investors’ focus shifting to the US Fed Chair Jerome Powell’s comments and geopolitical developments in the Middle East.
MCX Gold traded 0.30 per cent higher at ₹75,945 per 10 grams around 9:45 am.
Gold prices have seen healthy gains in the domestic and international markets lately, primarily driven by optimism about the US Fed rate cut and tensions in the Middle East.
The US Fed started its rate reduction cycle by cutting benchmark rates by 50 bps on September 12. Hopes are rife that the central bank will cut rates by another 75-100 bps this year.
( to come)
