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Gold Gains Amid Market Caution and Geopolitical Concerns
28-May-2024, 01:46
Gold futures remained stable near $2325 an ounce in Asian electronic trading as investors exercised caution ahead of the US PCE inflation report, seeking insights into the Fed?s policy stance. Geopolitical tensions in the Middle East supported gold's safe-haven appeal following an Israeli airstrike in Rafah, prompting global calls to halt the assault. Meanwhile, China's net gold imports via Hong Kong dropped by 38% in April. MCX June bullion futures traded at Rs 71,862, down Rs 147 per 10 grams.
Gold futures remained stable near $2325 an ounce in Asian electronic trading as investors exercised caution ahead of the US PCE inflation report, seeking insights into the Fed?s policy stance. Geopolitical tensions in the Middle East supported gold's safe-haven appeal following an Israeli airstrike in Rafah, prompting global calls to halt the assault. Meanwhile, China's net gold imports via Hong Kong dropped by 38% in April. MCX June bullion futures traded at Rs 71,862, down Rs 147 per 10 grams.
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