Stay updated with breaking news from Senior Technical. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Gold and silver prices paused after reaching lifetime highs as market was influenced by geopolitical tension, Fed rate cut expectations, and policymakers' remarks. Physical bullion market prices also played a role in the market movement.
While the main domestic indices concluded with marginal movement, the Bank Nifty edged higher, propelled by robust credit growth in Q4FY24.
India Business News: Gold prices reached a new all-time high on Thursday, influenced by global commodity prices. US Fed Chair Jerome Powell's statement, indicating that recent job numbers and higher-than-expected inflation wouldn't change the central bank's monetary strategy much, boosted investor confidence in gold, sparking increased buying activity.
Gold hit yet another lifetime high in the opening trade on Thursday taking cues from the international commodity prices. US Fed chair Gerome Powells statement that the recent job numbers and higher-than-expected inflation readings do not significantly alter the central bank's monetary strategy, lifted the investor mood for bullion triggering a fresh wave of buying activity.
Gold prices on MCX and silver futures surged, driven by US Federal Reserve's rate cut hopes and geopolitical tensions. Analysts project bullish trajectory.