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As on : 17-Feb-2025
Other Markets - Bullion Markets
17-Feb-2025     14:23

Gold recovers from sharp drop, MCX trades higher by Rs 300

Gold prices climbed near $2,900 per ounce on Monday, recovering from their sharpest drop in two months, as weaker US retail sales and soft economic data bolstered expectations of further Federal Reserve rate cuts. The dollar index hovered below 107, its lowest in over two months, adding support for the metal. Uncertainty surrounding US President Donald Trump's erratic tariff policies and ongoing geopolitical risks, including potential peace talks to end the Ukraine war, further boosted gold's safe-haven appeal. Traders are also eyeing the Federal Reserve's meeting minutes this week for more clarity on future monetary easing. On the domestic front, MCX April bullion futures rebounded from today's low, trading higher by Rs 300 at Rs 84719 per 10 grams.

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