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As on : 30-Dec-2024
Other Markets - Bullion Markets
30-Dec-2024     13:17

Gold glows above $2630 as 2024 wraps up

Gold hovered above $2630 per ounce in Monday's electronic trades, buoyed by safe-haven demand and cautious market sentiment. Investors are eyeing the Fed's monetary policy outlook and President-elect Trump's tariff and tax reform plans. A stable US dollar index near 108, supported by rising Treasury yields, added intrigue, while recent soft inflation data has kept hopes alive for further Fed easing'a potential boost for gold. With a stellar 30% gain this year, gold is on track for its best performance since 2010, driven by geopolitical risks like the Russia-Ukraine conflict, Middle East tensions, and strong central bank buying. On the MCX, February gold futures edged slightly lower to ₹76,500 per 10 grams.

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