Other Markets - Bullion Markets
Gold off five week top after solid gains this week As on : 12-Dec-24  14:32

COMEX Gold futures are witnessing some moderation today but remain firm after marking excellent gains this week. The counter hit a five week high of $2760 per ounce in morning trades but flipped back and currently trades down 0.18% at $2751 per ounce. The metal soared around 1.40% in last session as a break above $2700 per ounce mark extended. Gold saw solid gains after US Consumer Price Index (CPI) edged up marginally. The monthly headline Inflation came in at 0.3% compared to 0.2% in its previous reading. The yearly gauge ticked up to 2.7% from 2.6% whereas the monthly core inflation increased by 0.3%, the same pace as the previous month. Geopolitical tensions continue to simmer as Ukraine's military general staff noted that it hit an oil depot in western Russia that fuels a key pipeline for Russian military supplies. MCX Gold futures are hovering around Rs 79000 per 10 grams as weakness in Indian Rupee is limiting losses for the local futures. INR fell to 84.89 per US dollar today, marking another record low.

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