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As on : 11-Feb-2025
Other Markets - Bullion Markets
11-Feb-2025      14:29

Global unrest and inflation concerns push gold to record levels

Gold futures soared to a historic $2968.5 per ounce, propelled by surging safe-haven demand as investors navigated deepening trade tensions and geopolitical turmoil. The suspension of hostage releases by Hamas over alleged Israeli ceasefire violations heightened uncertainty, adding to gold's bullish momentum. Meanwhile, a strengthening dollar, buoyed by President Trump's latest tariff policies, posed resistance, yet inflationary fears and potential Fed rate constraints provided underlying support. Traders eagerly awaited Fed Chair Powell's testimony and key US inflation data, which could shape future monetary policy moves. On MCX, gold futures retreated ₹300 after touching ₹85950 per 10 grams in the previous session, reflecting some profit booking after the sharp rally.

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