Gold Market
Gold has recovered above $4,400 after touching one-week lows near $4,350. Traders now await US PPI and CPI data for direction, while technical levels highlight resistance at $4,463 and support at $4,340.
Gold prices in India rose on Thursday, with the cost per gram reaching INR 13,509.58. The increase comes amid broader market factors. FXStreet calculates the data by adapting international rates.
Gold is currently trading around ₹1.5 lakh per 10 grams. An analyst expects it to move towards ₹2 lakh–₹2.1 lakh over the next 12 months, driven by rupee weakness, customs duties and global trends.
Gold recovered from one-week lows near $4,350 early Wednesday, but the rebound looks fragile as Middle East tensions persist and traders eye US inflation data due this week.
Gold rebounds from a one-week low near $4,340 as the US dollar weakens. However, expectations of further rate hikes and rising geopolitical tensions cap the upside ahead of US inflation data.
Gold rebounded early Tuesday, recovering from a two-day slide as the US dollar softened broadly. The metal found buyers below $4,400 and now eyes the 21-day SMA near $4,465.
TD Securities remains constructive on the South African Rand, citing gold prices above $4,000/oz and resilient global risk sentiment as key supports despite domestic political noise.
Gold fell on Tuesday as rising oil prices and geopolitical tensions took centre stage, with traders turning their attention to upcoming US inflation reports.
Gold has stabilised around USD 4,400 per ounce as markets turn their focus to US inflation data. Commerzbank notes that futures imply a 60% chance of a rate hike, leaving room for a volatile week.