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Forex

Gold Prices Rise on Weaker US Data and Interest Rate Expectations

Guavy AI Editorial Team
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USD
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Gold prices surged by 0.86% on a weekly basis as weaker-than-expected US economic data reinforced expectations that the US Federal Reserve will hold interest rates unchanged.

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

According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold reached Rs 1,49,621 on Friday, up from Rs 1,42,863 seen on Monday at market opening.

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