Gold Prices Surge Amid Expectations of Unchanged Interest Rates

Gold prices rose by 0.86% on a weekly basis as investors anticipated that the US Federal Reserve would keep interest rates steady. Weaker-than-expected US economic data reinforced this expectation, causing gold to surge.

The price of MCX gold futures (October) gained 0.73% and stood at Rs 154,590, while MCX silver futures (September) advanced 0.15% and stood at Rs 2,36,272 per kg.

Gold also benefited from lower Treasury yields and a weaker US dollar, which contributed to its climb to over two months high before modest profit-taking later in the week.