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What is the story about?
Gold prices continued their upward march on Wednesday (October 15), reaching just shy of $4,200 per ounce, as a combination of expectations for US rate cuts, ongoing geopolitical tensions, and safe-haven demand pushed the metal to new heights.
Spot gold rose 0.8% to $4,173.56 per ounce, after briefly touching a record $4,186.68 an ounce. US gold futures for December delivery climbed 0.7% to $4,192.90 an ounce.
In India, 24-karat gold traded at ₹12,889 per gram, 22-karat at ₹11,815 per gram, and 18-karat (999 gold) at ₹9,697 per gram for 10 grams.
Market watchers say the rally is fueled by dovish signals from the US Federal Reserve. Chair Jerome Powell highlighted subdued labor market conditions and signaled that interest rate decisions would be made on a “meeting-by-meeting” basis.
Investors now expect a near-certain 25-basis-point Fed rate cut in both October and December.
“The US government shutdown and dovish comments from Powell have provided the latest reasons for gold prices to accelerate higher,” Matt Simpson, senior analyst at StoneX was quoted as saying in a Reuters report.
Geopolitical uncertainties are also playing a role. US President Donald Trump announced plans for potential trade restrictions with China, while both countries recently imposed tit-for-tat port fees. Such tensions have reinforced gold’s appeal as a safe-haven asset.
In India, gold has gained 4.7% over the last three days.
“Gold range is seen between ₹1.24 lakh–₹1.27 lakh per 10 grams with a positive bias,” said Jateen Trivedi, VP Research Analyst, LKP Securities.
Experts also point to the long-term value of gold for investors.
Anooshka Soham Bathwal, Founder & CEO of Dhanvesttor, said, “Gold offers lower volatility, deep market liquidity, and a consistent track record as a hedge during inflation or macroeconomic uncertainty. Its ability to preserve purchasing power across generations makes it a form of financial security, particularly for women building independent portfolios.”
Bullion has surged 59% year-to-date, fueled by central bank purchases, ETF inflows, de-dollarisation trends, and momentum trading, making it a daily highlight for investors looking for stability amid global uncertainty.
Spot gold rose 0.8% to $4,173.56 per ounce, after briefly touching a record $4,186.68 an ounce. US gold futures for December delivery climbed 0.7% to $4,192.90 an ounce.
In India, 24-karat gold traded at ₹12,889 per gram, 22-karat at ₹11,815 per gram, and 18-karat (999 gold) at ₹9,697 per gram for 10 grams.
Market watchers say the rally is fueled by dovish signals from the US Federal Reserve. Chair Jerome Powell highlighted subdued labor market conditions and signaled that interest rate decisions would be made on a “meeting-by-meeting” basis.
Investors now expect a near-certain 25-basis-point Fed rate cut in both October and December.
“The US government shutdown and dovish comments from Powell have provided the latest reasons for gold prices to accelerate higher,” Matt Simpson, senior analyst at StoneX was quoted as saying in a Reuters report.
Geopolitical uncertainties are also playing a role. US President Donald Trump announced plans for potential trade restrictions with China, while both countries recently imposed tit-for-tat port fees. Such tensions have reinforced gold’s appeal as a safe-haven asset.
In India, gold has gained 4.7% over the last three days.
“Gold range is seen between ₹1.24 lakh–₹1.27 lakh per 10 grams with a positive bias,” said Jateen Trivedi, VP Research Analyst, LKP Securities.
Experts also point to the long-term value of gold for investors.
Anooshka Soham Bathwal, Founder & CEO of Dhanvesttor, said, “Gold offers lower volatility, deep market liquidity, and a consistent track record as a hedge during inflation or macroeconomic uncertainty. Its ability to preserve purchasing power across generations makes it a form of financial security, particularly for women building independent portfolios.”
Bullion has surged 59% year-to-date, fueled by central bank purchases, ETF inflows, de-dollarisation trends, and momentum trading, making it a daily highlight for investors looking for stability amid global uncertainty.
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