Gold Prices Soar to Near Peak Levels Amid Global Tensions, Fed Rate Cut Hopes

• Gold prices are holding near peak levels, with Comex trading at $4,603.80, driven by geopolitical tensions and expectations of a Fed rate cut.
• Comex gold reached an all-time high of $4,648 on January 14, while MCX futures closed at Rs 1,43,201 for 10 grams of 24-carat gold.
• Geopolitical uncertainty, specifically the reported cancellation of US-Iran peace talks, has revived safe-haven demand for gold.
• Jateen Trivedi of LKP Securities predicts gold will remain volatile but positive, trading between Rs 1,41,000-Rs 1,45,500 in the near term.
• Gold prices vary slightly across Indian cities due to local taxes, jeweller margins, and logistics costs, with Mumbai, Kolkata, and Hyderabad showing similar rates.

Why It Matters: Gold prices are near record highs due to global tensions and Fed rate cut hopes, with a positive outlook.