Sensex
81,118.60 profit arw -573.38 (-0.70%)
Nifty
24,718.60 profit arw -169.60 (-0.68%)
Nasdaq
18,355.20 profit arw -497.09 (-2.64%)
logo img

GET IN TOUCH

GET IN TOUCH

Refresh Captcha
Equity

As on : 25-Jul-2024
Other Markets - Bullion Markets
25-Jul-2024     15:23

Gold sees hefty drop after breaking under $2400 mark

COMEX Gold futures fell over $40 an ounce, dropping below $2370 to its lowest level in two weeks, as investors turned cautious ahead of key US economic data releases. Metals and risky assets were hurt heavily and sentiments remained volatile. The preliminary Q2 GDP figures from the US, due later today, and the June PCE price index report on Friday are key focal points. Markets are fully pricing in a September rate cut, with two additional reductions anticipated before the end of the year. Meanwhile, in India, gold demand is expected to increase following the government's reduction of the gold import tax from 15% to 6%. MCX gold futures have plunged nearly Rs 5000 since the import duty cut on Monday, reaching as low as Rs 67606 so far this week.

Powered by Capital Market - Live News

INDIAN INDICES

Sensex

81,118.60 -573.38 (-0.70%)

Nifty

24,718.60 -169.60 (-0.68%)

GLOBAL INDICES

USD

85.75 0.06 (0.95%)

NASDAQ
HANG SENG

23,892.57 -142.82(-0.59%)