Gold prices strengthened sharply today, extending their recent rally as global market sentiment shifted in favour of safe-haven assets. In early trade, spot gold climbed to a fresh record high of $4,383.73 per ounce, boosted by expectations of additional interest rate cuts by the U.S. Federal Reserve.
Last week’s quarter-point policy easing signaled the possibility of further rate reductions, pushing investors toward precious metals amid a weaker U.S. dollar. Analysts note that ongoing geopolitical uncertainties and persistent inflation concerns are also supporting gold’s upside trend.
Domestic markets mirrored the rally. In major Indian cities, 24-carat gold prices saw notable gains per 10 grams, while silver rates also surged, continuing their bullish streak from previous sessions. Jewelers expect festive demand and investment buying to keep prices elevated in the near term.
Market experts warn that price volatility may remain high, but sentiment toward safe-haven metals is likely to stay positive if rate-cut expectations strengthen further in the coming weeks.
