Sensex
80,172.94 profit arw 15.06 (0.02%)
Nifty
24,586.50 profit arw 6.90 (0.03%)
Nasdaq
18,355.20 profit arw -497.09 (-2.64%)
logo img

GET IN TOUCH

GET IN TOUCH

Refresh Captcha
Equity

As on : 18-Sep-2024
Other Markets - Bullion Markets
18-Sep-2024     14:06

Gold steady with focus on Fed's first rate cut since 2020

Gold prices hovered near record highs at $2600 per ounce on Wednesday, supported by a weaker dollar ahead of the Federal Reserve's much-anticipated interest rate decision. With the Fed set to announce its first rate cut since 2020, investors are leaning towards a 50-basis-point reduction. The Fed is anticipated to lower the Fed funds rate, which currently stands at a 23-year high of 5.25%-5.50%, at the September meeting, today. This would be the first rate cut since March 2020. Meanwhile, gold faced slight pressure on Tuesday after US retail sales unexpectedly rose 0.1% in August, countering predictions of a 0.2% decline. Looking ahead, the Bank of England is expected to hold rates steady on Thursday, and the Bank of Japan is likely to signal future rate hikes.

Powered by Capital Market - Live News

INDIAN INDICES

Sensex

80,172.94 15.06 (0.02%)

Nifty

24,586.50 6.90 (0.03%)

GLOBAL INDICES

USD

NA

NASDAQ
HANG SENG

25,496.56 -120.87(-0.47%)