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Gold vaults to all-time high
Gold prices rally in international market, impacting domestic prices. Prices breach Rs 64,000/10 grams mark on MCX. Sharp correction follows, falling below $2,050 level. Local markets sell gold at Rs 67,500/10gm, a new all-time high. Surge in prices attributed to news of US warship and commercial ships attack in Red Sea. On the other hand, Avinash Gupta, former director, All India Gems & Jewellery Domestic Council, feels the surge was not substantiated by any fundamentals and was driven only by anticipation of the US Fed slashing interest rates much earlier than expected.
Gold prices rally in international market, impacting domestic prices. Prices breach Rs 64,000/10 grams mark on MCX. Sharp correction follows, falling below $2,050 level. Local markets sell gold at Rs 67,500/10gm, a new all-time high. Surge in prices attributed to news of US warship and commercial ships attack in Red Sea. On the other hand, Avinash Gupta, former director, All India Gems & Jewellery Domestic Council, feels the surge was not substantiated by any fundamentals and was driven only by anticipation of the US Fed slashing interest rates much earlier than expected. 
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