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Gold Bounces Back in Asian Trade as Investors Eye US Inflation Data
10-Jan-2024, 02:05
Gold futures recover in Asian electronic trades following a three-day loss streak, as investors brace for crucial US inflation data to gauge potential Federal Reserve policy shifts. The precious metal faced setbacks due to a resurgent US dollar and rising Treasury yields, diminishing expectations for early and aggressive interest rate cuts by the central bank. With Fed rate cut odds for March at 64%, down from nearly 90% a week ago, the market awaits key economic indicators. MCX February gold futures trade higher at Rs 62,272 per 10 grams.
Gold futures recover in Asian electronic trades following a three-day loss streak, as investors brace for crucial US inflation data to gauge potential Federal Reserve policy shifts. The precious metal faced setbacks due to a resurgent US dollar and rising Treasury yields, diminishing expectations for early and aggressive interest rate cuts by the central bank. With Fed rate cut odds for March at 64%, down from nearly 90% a week ago, the market awaits key economic indicators. MCX February gold futures trade higher at Rs 62,272 per 10 grams.
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