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As on : 09-Oct-2024
Other Markets - Bullion Markets
09-Oct-2024     14:51

Gold steady at two-week lows on strong dollar, Fed in focus

Gold prices hovered around $2,635 per ounce in Asia on Wednesday, pressured by the strong US dollar, which held near a seven-week high at 102.42. Investors are trimming expectations for larger rate cuts by the Fed as they await FOMC minutes and upcoming CPI and PPI data for monetary policy cues. Gold's appeal as a safe haven remains supported by Middle East tensions, but a lack of clear stimulus measures from China also weighed on the market. MCX December bullion futures held steady at Rs 75,155 per 10 grams.

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