24-carat gold price – Bharat Pulse News

Gold Price Today: Yellow Metal Hits ₹76,700 as Global Demand Surges on Fed Rate Cuts Gold prices soared in the domestic futures market on Monday, with 24-carat gold reaching ₹76,700 per 10 grams in Delhi, driven by strong demand and positive global cues. Investor sentiment remained optimistic after the US Federal Reserve cut interest rates by 50 basis points (bps), sparking expectations of further rate cuts through 2026. Rate cuts typically boost gold prices. As the Fed reduces interest rates, the yields on interest-bearing assets like bonds and savings accounts decline. This enhances gold’s appeal as an investment, given that the precious metal does not offer interest or dividends. Additionally, lower interest rates tend to weaken the US dollar. Since gold is priced in dollars, this makes it more affordable for investors holding other currencies, leading to increased global demand and pushing prices higher. In international markets, spot gold prices remained near record-high levels, fueled by bullish traders' bets as the US enters a cycle of rate reductions. Following a 50-bps cut on September 18, the Fed signaled potential rate reductions in both November and December, with further cuts expected in 2024 and 2026. According to the CME FedWatch tool, there is currently a 51% chance of a 50-basis-point reduction in November, while the odds of a 25-bps cut stand at 49%. On the Multi Commodity Exchange (MCX), gold for October 4 delivery was trading 0.20% higher at ₹74,190 per 10 grams as of 4 pm, reflecting the positive sentiment in the domestic market.

Gold Prices Surge to ₹76,700 Amid Positive Global Cues; Experts Share Outlook for MCX Gold Rate

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