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Gold subdued amid Middle East peace and US holiday lull
20-Jan-25   14:01 Hrs IST
Gold prices traded in a tight range today, with international futures steady near $2750 and domestic February futures down Rs 73 at Rs 78950 per 10 grams. Market activity remained subdued due to the Martin Luther King Jr. holiday in the US, while investors geared up for the inauguration of Donald Trump, whose inflationary policy promises, including tax cuts and deregulation, hold the market's focus. Safe-haven demand eased as Middle East tensions cooled, following a major prisoner exchange between Israel and Gaza. Meanwhile, expectations of Federal Reserve rate cuts grew after soft U.S. inflation and retail data last week, boosting gold's appeal. A weaker dollar, which dipped below 109, added support to bullion prices.

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