Gold Price Mumbai/IBNS: Ahead of US Federal Reserve chair Jerome Powell's upcoming speech, gold prices remained steady on Thursday (Sept. 26) but hovered near record highs.
The spot price of gold is fluctuating around $2,660 per ounce, just $10 shy of its all-time high of $2,670.
Meanwhile, the MCX gold rate in India is trading around Rs 75,345 per 10 grams, only Rs 655 away from its record peak of Rs 76,000.
Commodity market analysts are closely monitoring Powell's speech, as investors anticipate clear guidance on potential interest rate cuts from the US Federal Reserve.
Experts noted that the spot gold price is currently fluctuating between $2,660 and $2,700 per ounce, while the MCX gold rate is trading in a range of Rs 74,800 to Rs 76,000 per 10 grams.
Despite market fluctuations, analysts remain optimistic, advising investors to view any significant decline in gold prices as a buying opportunity.
Powell's remarks will kick off a conference on Wednesday, with additional speeches expected from New York Fed President John Williams and Fed Vice Chair for Supervision Michael Barr.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
