Mumbai, Jan. 29 -- COMEX gold futures are surging at lifetime highs above $5500 mark on Thursday morning in Asia, tacking cues from a dragging dollar overseas. Heightened geopolitical uncertainties are also adding to rally in the yellow metal which is currently quoting at $5554.80 an ounce, up over 4% on the day. Meanwhile, the Federal Reserve left interest rates unchanged as expected, with Chair Powell signalling the central bank is likely to remain on hold for some time. The Fed noted that economic activity continues to expand at a solid pace, unemployment shows signs of stabilization, and inflation remains somewhat elevated.
Published by HT Digital Content Services with permission from Capital Market....