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As on : 21-Aug-2024
Other Markets - Bullion Markets
21-Aug-2024     14:07

Gold pauses as market awaits FOMC clues

Gold is taking a breather from its recent highs, with investors treading carefully ahead of the highly anticipated FOMC meeting minutes. Everyone's on edge, waiting to see what clues the Fed might drop about its next moves. The dollar index is hanging around its lowest point this year, signaling the market's expectation of a hefty 100bps rate cut as inflation cools and the labor market softens. But don't count gold out just yet'geopolitical jitters and strong ETF inflows are keeping the bullish momentum alive. Meanwhile, over on the MCX, October bullion futures ticked up by Rs 93 to Rs 71,870 per 10 grams. Traders are also looking ahead to Fed Chair Powell's speech at the Jackson Hole Symposium on Friday for more guidance.

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