Gold hits new lifetime high amid geopolitical tensions

Gold prices rose to a new lifetime high of $2,263.53 per ounce in the international market on Monday as geopolitical tensions increase in Central Asia, and the US Fed has signalled a rate cut.

Tracking the rally in the international market, the MCX gold price in India (Gold Futures contract for April 2024 expiry) soared to a



record high of Rs 69,487 per 10 gm in opening trade and was hovering at Rs 68,828 at 11:26 am.

“The rise in gold prices has been triggered by the US Fed signalling a rate cut…Gold has continuously been the fond asset class for central banking and safe-haven investment avenue,” said Colin Shah, Founder and MD of Kama Jewelry.