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As on : 28-Nov-2024
Other Markets - Bullion Markets
28-Nov-2024     14:54

Gold stabilizes at $2670 amid mixed economic signals

Gold traded relatively unchanged at $2670 per ounce in Asia's electronic markets today, influenced by low trading volumes due to the US Thanksgiving holiday. Geopolitical tensions in the Middle East slightly diminished following a ceasefire between Israel and Hezbollah, though uncertainty remains after strong statements from Israeli Prime Minister Netanyahu. The dollar index steadied around 106.1 as investors digested US economic data, with PCE figures indicating stalled inflation and robust GDP and employment numbers highlighting economic resilience. These factors suggest the Federal Reserve may maintain its cautious approach on rate cuts. Domestically, bullion futures rose by ₹216 to ₹76,732 per 10 grams, reflecting steady investor confidence despite broader market uncertainties.

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