Other Markets - Bullion Markets
Gold climbs to $2650 as markets digest Fed minutes, await key us data As on : 27-Nov-24  14:09

Gold futures rebounded strongly in Asia, hitting nearly $2650 per ounce as traders assessed FOMC minutes. While officials highlighted easing inflation and a steady labor market, the cautious stance on rate cuts supported safe-haven demand. The dollar index softened below 106.5 ahead of crucial US data, including the PCE inflation report, jobless claims, and GDP estimates, keeping markets on edge. On the domestic front, MCX gold futures mirrored global gains, but resistance looms around Rs 76,100. Meanwhile, easing geopolitical tensions slightly tempered gold's allure. Adding to headwinds, China's net gold imports via Hong Kong fell 43% year-on-year in October, reflecting subdued demand.

Powered by Capital Market - Live News