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As on : 02-Dec-2024
Other Markets - Bullion Markets
02-Dec-2024     14:05

Gold retreats as dollar strengthens; investors await US data

Gold prices dropped below $2650 per ounce on Monday, ending a four-session gain streak, as the US dollar strengthened following President-elect Donald Trump's threat to impose 100% tariffs on BRICS countries. Investors are now focused on key upcoming US economic reports, including job openings, the ADP employment data, and payrolls, which could offer insight into the Federal Reserve's next move on interest rates. The dollar index climbed 0.5% to surpass 106.2, benefiting from the US economy's resilience and weaker outlooks in other regions. Meanwhile, MCX February gold futures fell by ₹630 to ₹76,498 per 10 grams.

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