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Gold prices hit all-time highs above $2,100 per ounce on Monday
In the domestic futures market, MCX gold rose 0.4% to ₹57,050 per 10 grams. The spot rate was Rs 42,160 per 10 grams, according to a report.
The Fed Chairman, Jerome Powell was quoted as saying by reports that the bank is firmly committed to lowering inflation.
US benchmark 10-year Treasury yields slid below 1% for the first time on Tuesday, after the Fed slashed interest rates by half a percentage point in an out-of-turn move.
The Fed said economic growth has been rising strongly and the job market has continued to strengthen.