Gold hits record high amid US-China tensions and rate cut expectations

ByEnigma 808

Gold prices soared to a new all-time high on Wednesday, crossing Rs 1.27 lakh per 10 grams on the Multi-Commodity Exchange (MCX). This surge followed a global rally fueled by escalating US-China trade tensions and expectations of further interest rate cuts by the US Federal Reserve. As global uncertainty increases, with a potential US rate cut on the horizon and a strengthening safe-haven demand, gold has gained nearly 55% this year. Silver also saw gains, hitting an intra-day high of Rs 1,61,418 per kg. The rally is driven by central bank buying, a shift away from the dollar, and steady inflows into gold ETFs, making gold a top investment choice amid global instability.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.