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As on : 09-Sep-2024
Other Markets - Bullion Markets
09-Sep-2024     14:39

Fed rate cut speculation keeps gold futures in tight range

Gold futures remained steady at around $2520 per ounce as markets focus on the Federal Reserve's upcoming interest rate decision, following a mixed US jobs report. The report showed fewer job additions than expected, raising uncertainty over whether the Fed will cut rates by 25 or 50 basis points in September. Investors are also eyeing this week's inflation data for further clarity on the rate path. In India, MCX October gold futures traded near ₹71,350 per 10 grams. Meanwhile, China's gold reserves stayed unchanged at 72.8 million troy ounces in August, though their value rose to $182.98 billion, driven by record-high gold prices.

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