Lower-than-expected inflation in US triggered a sharp rise in gold rates
Gold prices in India today surged to over one-month highs, following a spike in global rates. On MCX, gold futures jumped 1.2% to ₹52,109 per 10 gram while silver rates edged higher by 0.5% to ₹61,875 per kg. In international markets, the yellow metal spiked 2% to a two-month high after data showed US inflation rose less than expected in October. Hopes that the Federal Reserve would adopt a less aggressive approach to rate hikes led to a easing in US dollar and bond yields.