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As on : 15-Jan-2024
Other Markets - Bullion Markets
15-Jan-2024     14:00

Gold Futures Rise on Geopolitical Tensions and Safe-Haven Demand

Gold futures climbed in Asia's electronic trades fueled by heightened geopolitical tensions in the Middle East, sparking increased safe-haven demand. The surge is further supported by softer US Producer Price Index (PPI) data, indicating a 1.0% annual rise in December, raising speculation about a potential Federal Reserve interest rate cut in March. Investors now place a 74.2% probability on a rate cut, up from 70% the previous week. The recent US and UK strikes in Yemen against Houthi targets added to safe-haven demand. As economic data remains limited due to a holiday, attention shifts to upcoming indicators, including the NY Empire State Manufacturing Index, Retail Sales, and the Michigan Consumer Sentiment Index. MCX February bullion futures are trading at Rs 62,593, up Rs 231 per 10 grams.

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