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As on : 12-Aug-2024
Other Markets - Bullion Markets
12-Aug-2024     15:06

Gold holds strong on dollar weakness and geopolitical risks

Gold futures held steady near $2,480 an ounce, supported by a weak dollar and safe-haven demand as investors awaited key U.S. inflation data. The dollar index remained around 103.1, with markets focused on upcoming producer and consumer inflation figures, as well as retail sales data, for insights into the Federal Reserve's next moves. Last week, the dollar hit a seven-month low due to recession fears sparked by a weak jobs report. Geopolitical tensions, including Israeli airstrikes on Gaza and Moscow's threats against Ukraine, further bolstered gold's appeal. MCX October bullion futures traded up Rs 270 at Rs 70,165 per 10 grams.

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