India Gold demand soars; US Elections, fed rate cut loom

As global markets brace for potential economic turbulence, the outlook for gold has become increasingly uncertain, especially with the upcoming US elections and possible interest rate cuts by the Federal Reserve (Fed), according to the World Gold Council.

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The global shift towards gold as a hedge against macroeconomic risks is also being reflected in India. The uncertainty surrounding the US election and potential rate cuts has driven up demand for safehaven assets like gold.

These developments have led to heightened activity in the gold options market, reflecting concerns about the near-term future.

Meanwhile, India, a key player in the global gold market, continues to show strong demand for the precious metal despite global volatility.