Gold price today: Rates of gold and silver jumped on the MCX in morning trade on Friday, September 19, on healthy spot demand and the dollar’s weakness. MCX Gold October futures were 0.32 per cent up at ₹109402 per 10 grams around 9:05 am, while MCX Silver December futures were 1 per cent up at ₹1,28,365 per kg at that time.
The subdued US dollar amid anticipation of further rate cuts by the US Federal Reserve is supporting gold prices.
According to Reuters, the CME Group’s FedWatch tool showed traders are pricing in a 92 per cent chance of another 25-basis-point cut by the Fed in October.
(This is a developing story. Please check back for fresh updates.)
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