Gold, silver futures hit record highs on Fed rate cut bets, weak dollar

NEW DELHI: (Sep 29) Gold and silver prices scaled fresh lifetime highs in the domestic futures market on Monday, mirroring record gains in global markets amid expectations of US Federal Reserve rate cuts and a softer dollar buoyed sentiment.

On the MCX, the yellow metal futures for October delivery surged by Rs 1,204 or 1.06 per cent to touch a lifetime high of Rs 1,14,992 per 10 grams. The December contract for gold futures also advanced Rs 1,034 or 0.9 per cent, to hit a record Rs 1,15,925 per 10 grams.

Last week, gold futures rallied by Rs 4,188, or 3.77 per cent, to close at Rs 1,14,891 per 10 grams on Friday.

Source: PTI News

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