Gold prices saw a fresh surge following remarks by US Federal Reserve Chairman Jerome Powell, which reinforced market expectations of an interest rate cut in the coming period. This scenario has once again made gold a preferred choice for investors seeking a safe haven.
Gold rises globally
Spot gold rose more than 1% to $3,374 per ounce , supported by a weaker dollar and growing expectations of easing US monetary policy. In local markets, prices surpassed key levels, reflecting growing confidence in gold as a future investment . You can follow the prices live here.
Why gold now?
- Inflation protection: Gold maintains its value as the purchasing power of currencies declines.
- Declining interest rates: Lower opportunity costs boost demand for gold.
- Investment and Gifts: Gold bullion and jewelry provide safe and ideal options for individuals and investors.
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