- Business Today
What does a 25 bps Fed rate hike mean for gold prices?
Gold is again the talk of t he town as safe haven buying returns in this counter and the world is again talking about new highs possibility in gold. It already shot up nearly 8 per cent this year-to-date and the lovable metal has outperformed all other asset classes.
In many countries; including India it already made a new record high (Rs 60,320) on MCX. It hit a record high further in the wake of a potential banking crisis, which saw several U.S. banks collapse amid a sharp rise in interest rates. Dollar index, its arch rival slipped from the recent high of 105.88 to 102 levels.