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Gold prices soar past $2,000 as US yields tumble on back of Fed hinting at rate cuts 2024 onwards
Investor enthusiasm over the US Federal Reserve's dovish position sets the stage for a multi-year upswing in gold. Bullion saw a surge in response to the Fed's indication of three rate cuts in 2024.
On the home front, gold and silver prices soared on December 14 in the MCX market. The secure-haven gold climbed by 2.3 percent, and silver shot up by 5 percent. Post the announcement, the dollar index plummeted, dipping below the 103 threshold, while the 10-year US Treasury yield slipped beneath the critical 4 percent mark. Catch Manisha Gupta in an exclusive conversation with Somasundaram, World Gold Council.
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