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Forex

Gold Soars on Weaker US Data, Crude Oil Volatility

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

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

Market participants attributed the rise in gold and silver prices to crude oil's volatility due to Middle East tensions, lower Treasury yields, and a weaker US dollar.

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