Gold hovered near fresh record highs and silver reached new peaks as softer US inflation data fueled expectations of Federal Reserve rate cuts. Safe-haven demand amid geopolitical tensions further supported bullion, with both metals seeing strong buying in domestic and global markets
Gold and silver prices slipped on the MCX on Thursday as investors booked profits ahead of key US inflation data. Markets are closely watching CPI and PCE figures for cues on the US Federal Reserve’s interest rate outlook.
At the interbank foreign exchange, the domestic unit opened at 72.96 against the dollar, then inched higher to 72.94, registering a gain of 3 paise over its previous close.
