Gold prices in India surged as global gold rates hit a record high, driven by growing expectations of a U.S. Federal Reserve interest rate cut next week.
Spot gold rose 1.6% to ₹71,900 per 10 grams, while U.S. gold futures climbed 1.4% to $2,578.90 per ounce. Investors expect a rate cut due to signs of a slowing U.S. economy. Silver in India increased by 2.3%, reaching ₹72,350 per kilogram. Palladium also rose 2.7%, and platinum gained 1.8%, reflecting global market uncertainty and increased demand for safe-haven metals.