Gold holds steady as US inflation data takes centre stage
Gold prices held steady as investors focused on upcoming US inflation data for clues on the Fed's interest rate path. Other precious metals edged higher amid global economic concerns.
Gold Market
Gold prices held steady as investors focused on upcoming US inflation data for clues on the Fed's interest rate path. Other precious metals edged higher amid global economic concerns.
Gold holds near a four-month high after a 5% weekly gain, with traders focused on US PCE inflation data and Fed Chair Warsh's speech at Jackson Hole for policy clues.
Gold traded near $4,676 an ounce, up 7% in four sessions, as US Treasury buybacks weakened the dollar. Investors await Fed chair Kevin Warsh at Jackson Hole, while trade tensions add to safe-haven demand.
Gold and silver prices opened lower on the MCX on Tuesday, pausing a rally, as markets turned cautious ahead of US inflation data and a speech by Fed Chair Kevin Warsh at Jackson Hole.
Gold prices advanced for a fifth straight session as Asian equities declined, mirroring a technology-led selloff on Wall Street. Markets await Nvidia earnings and Fed guidance.
Gold rose above $4,650 on Monday, its highest since mid-May. Lower US bond yields and a softer dollar, as expectations for a Fed rate hike fade, underpin the move.
Gold rose for a fourth consecutive session on MCX, gaining Rs 8,200 per 10g, while silver snapped a three-day rally, falling Rs 1,800/kg. Markets await US inflation data and a speech by Fed Chair Kevin Warsh.
Gold prices extended gains to a three-month high above $4,636 as investors focused on upcoming US inflation data and Federal Reserve Chair Kevin Warsh's speech at Jackson Hole.
MCX gold extended its rally for a fifth consecutive week, with August gains reaching 13.3% as a declining US dollar and reduced expectations of a Federal Reserve rate hike supported demand.