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As on : 15-Jan-2025
Other Markets - Bullion Markets
15-Jan-2025     15:48

Gold gains as dollar drags ahead of inflation data

Gold prices surged above $2700, up $25 per ounce in Asia today, extending their gains as investors braced for the release of key US inflation data. With the dollar index slipping below 109, its second consecutive decline, market attention shifted to the December consumer inflation report, which could influence the Federal Reserve's future policy. On the global stage, President-elect Donald Trump's second term could add further inflationary pressures, particularly with his pro-inflationary economic policies and tariff threats. These factors might push the Fed towards a more hawkish stance. Meanwhile, MCX February gold futures rose by nearly Rs 500, reaching a high of Rs 78,632 per 10 grams, continuing to feel the impact of this uncertainty.

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