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Gold Holds Near Record in India as Profit-Taking Checks Rally Before Fed Meeting

Rate‑cut bets with a softer dollar are lifting safe‑haven demand.

Overview

  • India Bullion Association data show prices near Rs 1,10,620 per 10 gm on Wednesday after a fresh record of Rs 1,10,650 on Tuesday.
  • MCX gold futures eased to about Rs 1,09,900 per 10 gm in early trade as traders booked gains, with silver futures down roughly 1%.
  • International spot gold hovered near $3,681 an ounce after touching an all‑time high around $3,703 on Tuesday, according to Reuters.
  • Analysts link the surge to expectations for US Federal Reserve easing and a weaker dollar, with short‑term profit‑taking tempering moves.
  • Silver remained elevated around Rs 1.28–1.32 lakh per kg, and a Motilal Oswal outlook projects potential gains toward Rs 1.5 lakh within 12 months.