Gold Price Today: Yellow metal hits new peak of ₹87,679 per 10 gm on MCX; Profit booking eyed on tariff resolution Gold prices rose more than 1% to an all-time high on Thursday as elevated tariff uncertainty and bets on monetary policy easing by the Federal Reserve kept bullion’s appeal strong.
Gold Prices Surge to New All-Time High
In an exciting turn of events for gold investors, the price of gold has soared to ₹87,679 per 10 grams on the MCX (Multi Commodity Exchange) today. This marks a more than 1% increase, reaching an all-time high that has left many in awe. The surge can be attributed to ongoing tariff uncertainties and market speculation regarding monetary policy easing by the Federal Reserve.
Factors Driving Gold Prices Higher
The recent uptick in gold prices is primarily driven by:
- Tariff Uncertainty: Heightened tensions surrounding tariffs have made gold a safe haven for investors looking to shield their assets from market volatility.
- Monetary Policy Easing: With expectations of a shift in the Federal Reserve’s monetary policy, investors are flocking to gold, further boosting its appeal.
Profit Booking Anticipated
As gold hits these heights, analysts predict that profit booking may soon follow. Savvy investors often take profits after significant price increases, leading to potential fluctuations in the gold market. Keeping an eye on the market trends will be crucial for those invested in this precious metal.
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Conclusion
The gold market is witnessing unprecedented heights, making it an exciting time for investors. With factors such as tariff uncertainties and potential changes in monetary policy influencing gold prices, staying informed is essential. Keep an eye on the market, and remember to explore Looffers.com for the best deals on your investments!
