Delhi gold climbs to ₹1.46L per 10g after Fed pause
Business
Gold prices just hit ₹1.46 lakh per 10gm in Delhi, jumping ₹700 overnight.
This comes right after the US Federal Reserve decided not to change interest rates, keeping them at around 3.9%.
Ongoing inflation worries and tensions in West Asia, like recent attacks by Yemen's Houthi group, are making investors nervous and pushing people toward gold as a safer bet.
Global gold $4,073.70 rupee 95.28
It's not just an India thing: global gold prices climbed too, with COMEX gold futures now at $4,073.70 per ounce and silver also rising.
Plus, since the rupee has slipped to 95.28 against the dollar, importing gold is pricier for India, which is adding even more fuel to local price hikes.