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As on : 11-Oct-2024
Other Markets - Bullion Markets
11-Oct-2024     14:22

Gold rises above $2660 as Fed watch continues; MCX bullion gains

Gold prices surged above $2660 per ounce on Friday, extending gains as traders digest mixed economic signals and look ahead to US producer inflation data for further cues. Despite this, gold is on track for its second consecutive weekly decline, weighed down by a strengthening US dollar, with the dollar index hovering around 102.6. Recent economic data has tempered expectations for Federal Reserve rate cuts, as inflation slowed less than expected in September. This has led markets to anticipate a slower pace of rate reductions. MCX bullion futures rose by Rs 521 to Rs 75818 per 10 grams.

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