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As on : 15-Oct-2024
Other Markets - Bullion Markets
15-Oct-2024     15:09

Gold prices steady at $2,670 amid geopolitical tensions

Gold prices stabilized around $2,670 per ounce on Tuesday, following a slight decline in the previous session, as rising geopolitical tensions provided support. Reports of extensive military drills by China around Taiwan, including a record deployment of aircraft and coast guard forces, heightened market anxiety. Simultaneously, violence in the Middle East contributed to the uncertainty. The dollar index remained around 103, its highest level in over two months, reflecting expectations that the Federal Reserve will adopt a more moderate approach to interest rate cuts in the near future. Investors are closely watching upcoming retail sales data and Fed officials' speeches for further guidance on monetary policy. In the Indian market, MCX December bullion futures traded above ₹76,000, gaining ₹74 per 10 grams.

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