Gold Soars Past Rs 1,39,200 on MCX: Fed Rate Cut Hopes & Geopolitical Tensions Fuel Rally

• MCX gold futures crossed Rs 1,39,200, while spot gold hit $4,498 an ounce, continuing an uptrend.
• The surge is driven by anticipation of further Fed rate cuts and heightened geopolitical tensions.
• Augmont Bullion report notes gold prices setting new records, up 72% year-on-year to $4,550.
• Analysts forecast gold to reach $4,575 (Rs 1,40,000) soon, potentially $5,000 (Rs 1,50,000) in weeks.
• Rupee declined to 89.563 against the U.S. dollar, further supporting gold's appeal.

Why It Matters: Gold prices are surging due to Fed rate cut expectations and global geopolitical instability.