New Delhi, Gold prices reached a historic milestone on Wednesday, crossing the $4,000 per ounce mark in international markets for the first time ever.<\/p>\n\n\n\n
The precious metal touched a record high of $4,002.53 in spot trading, while December gold futures on the US Commodity Exchange rose 0.5 per cent to $4,025 per ounce.<\/p>\n\n\n\n
The sharp rally in gold prices has been driven by rising demand for safe-haven assets, as investors seek protection from growing global economic uncertainty and geopolitical tensions.<\/p>\n\n\n\n
Speculation about possible interest rate cuts by the US Federal Reserve has further fuelled the rally.<\/p>\n\n\n\n
In India, gold prices also soared to fresh all-time highs on the Multi Commodity Exchange (MCX).<\/p>\n\n\n\n
MCX Gold December futures surged past the Rs 1,22,000 per 10-gram mark for the first time, hitting a record high of Rs 1,22,101 during early trade.<\/p>\n\n\n\n
In the early trade, gold futures were trading 0.69 per cent higher at Rs 1,21,949 per 10 grams, while silver futures rose 0.73 per cent to Rs 1,46,855 per kg.<\/p>\n\n\n\n
The yellow metal has been on a strong upward trend throughout the year, supported by robust central bank buying, steady inflows into gold ETFs, and a weaker US dollar.<\/p>\n\n\n\n
Domestic spot gold prices have already jumped over 55 per cent this year — reflecting the global bullish sentiment.<\/p>\n\n\n\n
Experts say gold\u2019s record-breaking run could continue if global uncertainties persist and the Federal Reserve moves toward rate cuts in the coming months.<\/p>\n\n\n\n
\u201cGold prices surged past $4,000 per ounce as investors sought safe-haven assets amid mounting global uncertainties,\u201d experts said.<\/p>\n\n\n\n
\u201cThe US government shutdown, political turmoil in the France, economic worries in the Japan and Argentina and escalation in the Russia-Ukraine war are supporting safe-haven buying for precious metals,\u201d they added.<\/p>\n\n\n\n
According to analysts, gold has support at $3950-3920 while resistance at $4020-4045. Silver has support at $47.70-47.40 while resistance is at $48.50-48.90.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, Gold prices reached a historic milestone on Wednesday, crossing the $4,000 per ounce mark in international markets for the first time ever. The precious metal touched a record […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-658","post","type-post","status-publish","format-standard","hentry","category-business","has_no_thumb"],"_links":{"self":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=658"}],"version-history":[{"count":1,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/658\/revisions"}],"predecessor-version":[{"id":659,"href":"https:\/\/newsaxis.com\/index.php?rest_route=\/wp\/v2\/posts\/658\/revisions\/659"}],"wp:attachment":[{"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsaxis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}