Gold hits record high: What's driving the surge
Gold just climbed to $4,140.75 an ounce, bouncing back after a dip.
In India, 24-carat gold is now ₹1,23,830 per 10gm.
The boost comes as the US edges closer to ending its government shutdown and expectations that upcoming economic data will confirm a slowdown.
Why gold is shining bright
With talk of the Fed possibly cutting rates soon—markets see a 64% chance in December and 77% in January—gold is looking even safer for investors worried about uncertainty.
Basically: when things get shaky, gold gets popular.
Central banks are still buying gold
Central banks aren't slowing down on gold buying—China's added more for the 12th straight month, and global banks bought 220 tons last quarter (up 28%).
JPMorgan even predicts gold could top $5,000 an ounce by late 2026.
But heads up: India's SEBI warns against unregulated digital gold products—they're not always as safe as they seem.