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Gold rises 29% so far this yr, may soar to ₹8,000/g by December
The Morning Standard
|September 28, 2024
BULLION price continued to sizzle for the third day on the back of global rally that began since the Ukraine war and has gained an unprecedented speed since the US Federal Reserves cut the interest by 50 bps-first time in four years.
Every analyst is expecting the rally to continue for some more time ranging from $2,800-3,000/ounce or 7,5508,000 by December. The yellow metal has already gained 29% this year after a 20% rally in the previous year.
Gold continued to gain on Friday, adding 35/g which took the retail price to ₹7,575/g for pure gold. Similarly, silver also shot up by 1,705/kg to 92,522, according the closing price details on the Indian Bullion & Jewellers Association website.
This story is from the September 28, 2024 edition of The Morning Standard.
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