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Gold rate today: October futures cross Rs 1.10 lakh per 10 gm; Fed rate-cut hopes and weak dollar fuel demand

Gold rate today: Gold futures soared to fresh peaks on Tuesday, with expectations of an imminent US Federal Reserve rate cut and a weaker dollar driving safe-haven buying across global and domestic markets. On the Multi Commodity Exchange (MCX), October contracts jumped Rs 384, or 0.34 per cent, to a record Rs 1,10,563 per 10…

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China gold licences: Yellow metal’s largest buyer to ease rules; continues to diversify away from dollar reserves

China, the world’s largest consumer of gold, is planning to relax licensing norms for the export and import of the yellow metal, as the nation continues to steer away its reserves from the US dollar.According to a draft proposal from the People’s Bank of China (PBOC), the country plans to expand the use of “multi-use…

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