Gold prices linger near all-time high
Mumbai/IBNS: Ahead of US Federal Reserve chair Jerome Powell's upcoming speech, gold prices remained steady on Thursday (Sept. 26) but hovered near record highs.
The spot price of gold is fluctuating around $2,660 per ounce, just $10 shy of its all-time high of $2,670.
Meanwhile, the MCX gold rate in India is trading around Rs 75,345 per 10 grams, only Rs 655 away from its record peak of Rs 76,000.
Commodity market analysts are closely monitoring Powell's speech, as investors anticipate clear guidance on potential interest rate cuts from the US Federal Reserve.
Experts noted that the spot gold price is currently fluctuating between $2,660 and $2,700 per ounce, while the MCX gold rate is trading in a range of Rs 74,800 to Rs 76,000 per 10 grams.
Despite market fluctuations, analysts remain optimistic, advising investors to view any significant decline in gold prices as a buying opportunity.
Powell's remarks will kick off a conference on Wednesday, with additional speeches expected from New York Fed President John Williams and Fed Vice Chair for Supervision Michael Barr.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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