Gold prices surged to a record high on Friday after US President Trump hinted at pressuring the Federal Reserve to lower interest rates. The MCX gold futures reached Rs 80,312 per 10 gram and spot prices breached Rs 83,000. Analysts suggest safe-haven buying driven by economic uncertainty and Trump’s policies is fueling the rally.
ETMarkets Smart Talk | IT, Pharma face global headwinds; Banks and Telcos offer safety: BNP Paribas’ Abhiram Eleswarapu
The recent market drawdown may have already factored in some but not all potential earnings cuts, especially in globally exposed sectors such as IT services