Gold Prices Soar as Fed Rate Hike Expectations Ebb

Gold prices have surged over the past week, fueled by expectations that the US Federal Reserve will hold interest rates unchanged. According to data from the India Bullion and Jewellers Association (IBJA), gold futures on MCX gained 0.73% to stand at Rs 154,590 per kg.

The price of 10 grams of 24-carat gold also rose to Rs 1,49,621, up from Rs 1,42,863 seen on Monday at market opening.

This rise in gold prices was accompanied by a modest increase in silver futures, which advanced 0.15% to stand at Rs 2,36,272 per kg.