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As on : 09-Jul-2024
Other Markets - Bullion Markets
09-Jul-2024     13:52

Gold Climbs Above $2,360 as Investors Eye Fed Testimony

Gold futures near $2370 an ounce levels in Asia electronic trades Tuesday, recovering from the previous session's losses as investors focused on Fed Chair Powell's upcoming testimony before Congress. Powell's testimony and key inflation figures due Thursday will provide further insight into the Fed's plans. Geopolitical developments in the Middle East, including a potential Israel-Hamas ceasefire, are also being monitored by traders. On the data front, the recent US labor market data showed the unemployment rate at a two-and-a-half-year high and wage growth at a three-year low, suggesting early interest rate cuts. MCX bullion august futures traded up Rs 35 at Rs 72368 per 10 grams.

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