Gold prices climbed around 2% to $4150 per ounce in Asia electronic trades on Thursday, reversing a two-day decline as investors sought safe-haven assets amid fresh US sanctions on Russia and escalating geopolitical tensions. The metal's rally, which recently hit an all-time high of $4398, had sharply corrected earlier this week with a 6% drop to $4090'the largest single-day fall in over a decade. Expectations of two more Federal Reserve rate cuts by year-end provided additional support. MCX December gold futures gained Rs 1650 to trade at Rs 123500 per 10 grams.
Powered by Capital Market - Live News