Gold Market
Gold and silver futures edged higher on the MCX on Wednesday as market participants looked ahead to the US PCE inflation report for signals on the Federal Reserve's interest rate outlook.
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 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 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 has risen 3% over the past week, while silver is gaining against gold. Copper remains stagnant and oversold. Treasury Secretary Besant's comments and geopolitical tensions are influencing the metals markets.
Spot gold and silver could break their 2026 highs if prices remain above $4,500 and $67.00 for the next ten trading sessions, according to Asian metals market commentary.
Gold prices stabilised after an early pullback on Friday, supported by cooling US inflation numbers that reduced expectations of an imminent interest rate increase.