Gold reclaims momentum as US Treasury move sparks bullion rush, gains 2% in a day
US Treasury’s expanded bond-buyback programme fuels safe-haven demand, lifting gold and silver prices and raising festive-season costs
Gold prices surged by 2% in a day, reaching ₹1,57,080 per 10 grams in India, as a US Treasury move to double buyback operations for longer-dated bonds sparked a bullion rush. The decision, announced on September 9, is expected to provide liquidity support to the bond market and boost investor interest in gold. The surge comes at a crucial time for the Indian jewellery industry, which is gearing up for the festive and wedding season.
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