Commodities
Gold Prices Rise as Investors Bet on US Fed Rate Stability
Gold prices rose by 0.86 per cent on a weekly basis as investors bet that the US Federal Reserve will hold interest rates unchanged, following weaker-than-expected US economic data.
The price of gold surged to its highest level in over two months before modest profit-taking later in the week, posting a monthly gain of more than 10 per cent.
MCX gold futures (October) gained 0.73 per cent and stood at Rs 154,590 on Friday, while MCX silver futures (September) advanced 0.15 per cent to Rs 2,36,272 per kg.