Back
Other Markets - Bullion Markets
Gold Approaches $2040 Amid Dollar Softening Ahead of Key US Inflation Data
11-Jan-2024, 01:31
In Asia trading on Thursday, gold advanced toward $2040 per ounce, recovering from earlier losses and capitalizing on a weakened dollar ahead of crucial US inflation data. The dollar index dipped below 102.2 for the second consecutive session as traders anticipated the inflation figures. While there is now a 60% chance of the Fed starting easing by March, down from nearly 90% a week ago. MCX February bullion futures in India traded at Rs 62,230 per 10 grams, with international prices hovering around $2,033.25 per troy ounce. Attention is focused on the upcoming U.S. Consumer Price Inflation (CPI) report at 1330 GMT, followed by producer prices data on Friday.
In Asia trading on Thursday, gold advanced toward $2040 per ounce, recovering from earlier losses and capitalizing on a weakened dollar ahead of crucial US inflation data. The dollar index dipped below 102.2 for the second consecutive session as traders anticipated the inflation figures. While there is now a 60% chance of the Fed starting easing by March, down from nearly 90% a week ago. MCX February bullion futures in India traded at Rs 62,230 per 10 grams, with international prices hovering around $2,033.25 per troy ounce. Attention is focused on the upcoming U.S. Consumer Price Inflation (CPI) report at 1330 GMT, followed by producer prices data on Friday.
Powered by Capital Market - Live News