Gold rebounds after profit taking as US interest rate worries ease
Gold prices stabilised after an early pullback on Friday, supported by cooling US inflation numbers that reduced expectations of an imminent interest rate increase.
Gold Market
Gold prices stabilised after an early pullback on Friday, supported by cooling US inflation numbers that reduced expectations of an imminent interest rate increase.
Spot gold rose above $4,320 per troy ounce as China's central bank extended its official reserve accumulation to 21 consecutive months alongside rising investment demand.
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Official sector demand has moved from a rounding error to a structural pillar of the gold market.