Gold prices traded near record-high levels on Thursday, as U.S. yields and the dollar dipped after the U.S. Federal Reserve hinted it may pause its rate-hike cycle.
Spot gold rose 0.9% to $2,056.24 an ounce in early trade on Thursday, after rising to a record high of $2,080.72 an ounce late-Wednesday. Gold futures rose 1.3% to $2,064.15 an ounce, and were trading just below a 2020 record high of $2,089.20 an ounce
Indian gold futures reached a new record high on Thursday, gold futures increased by over 12% so far in 2023, reaching 61,490 rupees ($752.49) per 10 grammes
But the surge slowed demand in the country, which is the world's second-largest consumer of the precious metal, according to traders, as per Reuters