Gold glitters on fed rate-cut hopes; silver hits 3-week high near $50

Gold prices soared 2% to $4,080 per ounce on Monday, their highest in over two weeks, supported by growing expectations of a Federal Reserve rate cut in December despite policymakers? cautious tone. Weak US data amplified the rally, as consumer sentiment in November slumped to 50.3, the second-lowest on record, while the economy shed 153,000 jobs in October ? the sharpest monthly decline in 22 years. The prolonged government shutdown, now the longest in US history, further fueled safe-haven demand. Silver followed suit, nearing $50 per ounce and marking a three-week high, aided by a weaker dollar that boosted appeal for dollar-priced metals. On the MCX, December gold futures gained 1.77% to ₹123206 per 10 grams, while silver jumped 3.2% to ₹152445 per kg, extending the bullish momentum across the bullion complex.

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