Gold has hit record highs: $3,702.95 an ounce globally and ₹110,666 per 10 grams in India, up over 40% this year. But inflation seems to be easing, and there’s no immediate threat of war. What could be behind the surge?
Experts point to central banks around the world buying gold, expectations of U.S. rate cuts weakening the dollar, and Indian households holding onto their gold, limiting supply. The rally matters for India because it pushes up imports and puts pressure on the rupee, which hit a record low of 88 against a dollar this year.
What does gold’s rise tell us about global money and India’s economy.
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