Other Markets - Bullion Markets
Gold near record above $2500 as US inflation stays in focus As on : 14-Aug-24  13:06

MCX Gold futures edged up steadily today, recovering early losses and moving into positive territory. Global cues remain firm with the COMEX Gold futures hovering around record highs above $2500 per ounce amid a hefty slide in the US dollar index in last session. Dollar index has tumbled near five month low after wholesale cost of U.S good and services showed only a mild increase in July. The producer price index rose 0.1% and set the stage for lower interest rates in coming months. The global markets are now eying the US consumer price inflation data due to come out latest on today. A tepid reading in that data may push US dollar down further and support Gold. This is likely to keep the yellow metal steady today. MCX Gold futures are trading at Rs 70760 per 10 grams, up marginally on the day.

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