19-Nov-2024      14:03

Gold tops $2620, silver surges on dollar weakness and geopolitical risks

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.

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News source: Capital Market - Live News