Gold shines bright on Friday: Prices soar by Rs 607, futures touch Rs 77,163/10gm10g
Gold prices saw a significant rise on Friday, with futures gaining Rs 479 to reach Rs 77,035 per 10 grams. The upward trend in gold reflects global factors, including softer US Treasury yields and geopolitical tensions.
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Glittering gains on Friday
Gold futures climb 0.63%, hitting Rs 77,035 per 10 grams.
Silver shines too
Domestic silver futures up 0.42%, settling at Rs 90,135/kg on MCX
Why gold is soaring globally
COMEX gold spikes 0.67%, trading at $2,682.60 per ounce.
City-wise gold rates revealed
Delhi tops the chart with Rs 77,513/10g, while Mumbai trails at Rs 77,367/10g.
Fed rate cut buzz fuels the rally
Lower US Treasury yields and Dollar Index soften, adding shine to gold.
Geopolitical tensions boost demand
Russia-Ukraine conflict sparks renewed interest in safe-haven assets.
Market forecast
Gold prices expected to stay volatile with key support at $2,588 per ounce.
Gold’s domestic volatility
After a dip earlier this week, MCX gold rebounds strongly.
Seasonal factors at play
Thanksgiving and Black Friday spur gold bids, but market remains cautious.
Gold outlook by experts
Price range of $2,600 to $2,700 expected over the next few days amidst market dynamics.