Commodities
Gold Hits 14-Week High as Fed Rate Expectations Boost Prices
Gold prices in India reached a 14-week high on August 24, driven by weakness in the US dollar and expectations that the Federal Reserve could maintain interest rates at its next policy meeting. This move supported gold's value, which rose to USD 4,618.05 an ounce. The yellow metal also marked its highest level since May 15, surpassing a three-month high.
The MCX saw gold trading 0.47% higher at Rs 1,63,200 per 10 grams, while silver was trading 0.49% lower at Rs 2,45,401 per kg.