Gold price jumps 2.21% on US Federal Reserve's interest rate cut signal

Yellow metal likely to hit Rs 35,000/10 gm; energy, base metals also firm up

Standard gold price in India on Thursday recorded the highest single-day gain of 2.21 per cent in recent years, following a sharp spurt in its prices in global markets on the US Fed’s dovish stance on economic growth in the United States.

The data compiled by the India Bullion and Jewellers Association (IBJA) showed standard gold price at Rs 33,559 per 10 gm in Zaveri Bazaar here on Thursday, barely 0.3 per cent lower than the all-time high of Rs 33, 716 in February this year. On Wednesday, Standard gold price in Zaveri Bazaar was Rs 32,851 per 10 gm.