Gold prices surge past Rs 65,000 to a new record
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Gold prices on the MCX surged past Rs 65,000 per 10 grams, reaching a new record high. This surge marks the fourth consecutive session of price increases. The increase in gold prices is attributed to a higher probability of the US Federal Reserve cutting interest rates from June, as well as geopolitical concerns. Gold prices have an inverse correlation with interest rates and typically move higher with easing rates. In 2024, gold prices are up around 2% compared to a 2-3% gain in the benchmarks Nifty 50 and Sensex. Experts suggest that investors should refrain from buying at current levels and instead look to add gold during dips.

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https://m.economictimes.com/markets/commodities/news/gold-prices-surge-past-rs-65000-to-a-new-record/articleshow/108249983.cms