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Gold prices soar to record high in India
Gold just got a lot pricier in India, with 24-karat gold hitting ₹1.11 lakh for 10gm—part of a global surge as everyone waits to see if the US Federal Reserve will cut interest rates soon.
Spot gold worldwide is now at $3,654 per ounce, almost breaking its previous record.
Why gold is shining so bright
The main reason: trouble in the US job market. More people are filing for unemployment and hiring has slowed, reinforcing expectations of Fed rate cuts through 2025.
Add in ongoing global tensions, and it's no surprise gold is up an impressive 39% this year—even as it approaches tough resistance near $3,900 an ounce.