Gold Market
Gold is trading near $4,350 on Wednesday, retracing part of its rebound from sub-$4,300. The metal remains range-bound as traders await the Trump-Xi meeting and weigh conflicting drivers.
Gold fell Rs 800 per 10 grams on the MCX while silver gained Rs 1,000 per kg, supported by a subdued dollar and weaker crude oil prices amid global interest rate uncertainty.
Gold rose more than 2% on Thursday, reaching $4,361, as a drop in oil prices pushed the US dollar and Treasury yields lower, offsetting the impact of the Fed’s latest rate hike.
Gold trimmed its intraday losses on Tuesday but remained under pressure from a rising US Dollar and multi-year high Treasury yields as markets awaited a widely expected Fed interest rate hike.
Gold trades near $4,300, well below last month's peak, as the Fed prepares a likely rate hike and the US dollar rallies. Market awaits Wednesday's decision.
Gold declined 0.9% to $4,360 after US producer prices and surging oil prices fuelled expectations of a hawkish Fed, sending yields and the dollar higher.
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.
Gold and silver gained internationally as the dollar softened. Traders are watching US inflation data for clues on the Fed's next move.
Gold prices edged higher on Tuesday as the US dollar softened. Traders are now focused on upcoming inflation data that could shape the Federal Reserve’s interest-rate path.