Indian gold prices surged to a fresh all-time high last year, with the most active MCX near-month futures booming to Rs 64,460 per ten grams in December. Firm overseas prices, weak Indian rupee, and expectations of an increase in jewellery demand amid peak wedding season propelled price rises.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction