Gold rallies Rs 458 to breach Rs 1.10 lakh mark; hits all-time high

New Delhi, Sept 9: Gold prices jumped by Rs 458 to scale an all-time high of Rs 1,10,047 per 10 grams in the domestic futures market on Tuesday, tracking a rally in the global trend where the precious metal hit fresh peaks amid weakness in the US dollar following disappointing labour market data.

On the MCX, the yellow metal futures for December delivery appreciated Rs 458 or 0.41 per cent to hit a lifetime high of Rs 1,10,047 per 10 grams.

Also, the most traded gold futures for October delivery increased Rs 482 or 0.44 per cent to hit a record peak of Rs 1,09,000 per 10 grams on the Multi Commodity Exchange (MCX).

“Gold hit a fresh all-time high, supported by mounting expectations of Federal Reserve interest rate cuts through year-end. Weak US jobs report last Friday led markets to price in three rate cuts this year, including a 25 basis-point cut at the Fed’s policy meeting next week,” Jigar Trivedi, Senior Research Analyst at Reliance Securities, said.

In the overseas markets, Comex gold futures for December delivery rose to hit an all-time high of USD 3,694.75 per ounce. (PTI)

Hot this week

Pay hike of Assam ministers, MLAs likely as 3-member panel submits report

Full report likely by Oct 30 Guwahati Sept 25: There...

Meghalaya Biological Park Inaugurated After 25 Years: A New Chapter in Conservation and Education

Shillong, Nov 28: Though it took nearly 25 years...

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya man missing in Bangkok

Shillong, Jan 10: A 57-year-old Meghalaya resident, Mr. Treactchell...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

Anti-Terror Squad launched to deal with terrorism threats

Shillong, Sept 29: In a bid to bolster Meghalaya...

Govt to examine adhoc teachers’ demand for deficit system

Shillong, Sep 29: Adhoc school teachers under the banner...

Meghalaya Governor stresses better healthcare for women, adolescent girls

Shillong, Sept 29: Governor CH Vijayashankar inaugurated the Specialist...

No talks till normalcy restored in Ladakh: Leh Apex Body

Leh, Sept 29: Hardening its position following the death...

Govt allays fear over Central order on uranium mining

Shillong, Sept 29: The state government has allayed fears...

Extension consultation needed on railway issue: Chief Secretary

Shillong, Sep 29: Outgoing chief secretary DP Wahlang has...

4 killed in Michigan church shooting

Grand Blanc Township, Sept 29: At least four people...
spot_img

Related Articles

Popular Categories