Mumbai, Sept. 12 -- Gold approached $3700 per ounce, heading for a fourth straight weekly gain, supported by expectations of looser US monetary policy and safe-haven demand amid rising geopolitical tensions. Silver surged 2% to a fresh 14-year high near $43 per ounce, driven by strong bets on an imminent Fed rate cut following weak jobless claims and a surprise drop in producer prices. Meanwhile, gold futures on MCX for October delivery traded up 0.17% at Rs.109161 per 10 grams. Growing global uncertainty, including conflicts in the Middle East and drone violations in Ukraine, further fueled buying momentum in precious metals.
Published by HT Digital Content Services with permission from Capital Market....