Gold Prices Surge to Record Highs Globally

Gold prices have surged to record highs, driven by anticipation of the US Federal Reserve’s upcoming interest rate cuts, which are expected to range from 25 to 50 basis points. This monetary easing, combined with a weaker US dollar and geopolitical tensions, has bolstered demand for gold as a safe-haven asset. Bullion prices have climbed above $2,589 per ounce, supported by robust central-bank buying and strong investor interest. In the domestic markets, gold prices are nearing all-time highs, reflecting international trends, although retail demand for jewelry remains sluggish due to high prices. Silver prices have also risen, supported by industrial demand and expectations of rate cuts.