GOLD TOPS $2620, SILVER SURGES ON DOLLAR WEAKNESS AND GEOPOLITICAL RISKS

Published on Nov 19, 2024 14:03

Gold climbed above $2,620 per ounce, reaching a one-week high, while silver crossed $31 per ounce on Tuesday, supported by a weaker US dollar. The dollar index held around 106.2 after a two-session slide driven by profit-taking but remains 6% higher since September, reflecting bets on fewer Fed rate cuts and US economic strength under Trump�s incoming presidency. Investors also await clarity from Federal Reserve statements and China�s LPR decision, alongside mounting geopolitical risks. On MCX, gold futures surged Rs 313 to Rs 75,000 per 10 grams, while silver futures reached Rs 91,120 per kg.