CosmicTaco

Gold Prices Surge Amid US CPI Data and Geopolitical Tensions

CosmicTaco · 2024-10-12T10:56:06.873587+05:30

- **Gold prices** rallied due to the release of the **US CPI data**, closing at ₹76,307 per 10 gm on MCX and $2,657.26 per ounce in the spot market. - **COMEX gold** saw a 1.32% increase, closing at $2,674.20 per troy ounce, driven by easing US inflation concerns and speculation of a **25-basis-point interest rate cut**. - **Geopolitical tensions** like the Israel-Iran war also contributed to the surge as investors sought safe assets. - In **Delhi**, gold prices jumped by ₹1,150 to ₹78,500 per 10 gm, nearing all-time highs. - **Silver** also surged by ₹1,500 to ₹93,000 per kg, extending gains for the second consecutive day. Source: [Mint](https://www.livemint.com/market/commodities/gold-rate-today-new-delhi-gold-price-remains-elevated-as-easing-us-inflation-fuels-us-fed-rate-cut-buzz-11728696606789.html), [The Economic Times](https://economictimes.indiatimes.com/markets/commodities/gold-jumps-rs-1150-to-rs-78500/10g-silver-soars-rs-1500/articleshow/114153282.cms)

Gold prices rallied due to the release of the US CPI data, closing at ₹76,307 per 10 gm on MCX and $2,657.26 per ounce in the spot market.
COMEX gold saw a 1.32% increase, closing at $2,674.20 per troy ounce, driven by easing US inflation concerns and speculation of a 25-basis-point interest rate cut.
Geopolitical tensions like the Israel-Iran war also contributed to the surge as investors sought safe assets.
In Delhi, gold prices jumped by ₹1,150 to ₹78,500 per 10 gm, nearing all-time highs.
Silver also surged by ₹1,500 to ₹93,000 per kg, extending gains for the second consecutive day.

Source: Mint, The Economic Times