What are reasons for gold prices hitting lifetime high of ₹76,400 for 10 grams?
Gold prices have been hitting all-time highs and have crossed ₹76,424/10 grams on India's MCX. A 50 basis-point cut in interest rates by US Federal Reserve and geo-political tensions over Israel-Hezbollah and Russia-Ukraine conflicts are hiking demand and driving prices up. Additionally, central banks buying more gold to reduce dependence on US dollar is also contributing to price growth.