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As on : 29-Apr-2024
Other Markets - Bullion Markets
29-Apr-2024     14:56

Gold Shines as Dollar Dips; Eyes on US Economic Data

Gold futures rebounded in Asian trading, supported by a weakening US dollar ahead of a busy week of US economic data. This week's key releases include April's monthly jobs report, ADP Non-Farm Employment Change, ISM Manufacturing PMI, and the consumer confidence index. The Federal Reserve's upcoming interest rate decision and FOMC statement will be critical for market sentiment, especially with inflation and a strong economy in focus. The Fed is expected to maintain its current policy rate range of 5.25%?5.5%, potentially impacting gold's appeal as a non-yielding asset. MCX June gold futures traded up Rs 25 at Rs 71,525 per 10 grams.

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