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As on : 05-Sep-2024
Other Markets - Bullion Markets
05-Sep-2024     14:20

Gold holds firm ahead of key US jobs report

Gold remained around $2500 per ounce on Thursday, with investors awaiting Friday's US jobs report for more insights into potential Federal Reserve rate cuts. Traders now await key jobless claims and employment data for further clarity on the labor market. A sharp drop in JOLTS job openings to 2021 lows has bolstered expectations for a 50 basis point cut this month, alongside weak US factory data from the ISM PMI. A softer US dollar, trading near 101.2, also lifted silver and other dollar-denominated commodities. MCX October bullion prices jumped more than Rs 500, hitting the session high of Rs 71934 so far today.

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