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Gold eases near $2760 on profit taking
23-Jan-2025, 02:39
Gold traded slightly lower in Asian markets as traders booked profits near its November peak of $2,770. Rising global tensions, including Israel's drone strike in Lebanon despite a ceasefire, fueled safe-haven demand. The US dollar's weakness, with the index stabilizing at 108.2 and down 1% this week, added to bullion's appeal. On MCX, February gold futures eased to ₹79,500 per 10 grams. Despite the slight dip, mounting geopolitical and economic uncertainties continue to support the metal's allure among investors.
Gold traded slightly lower in Asian markets as traders booked profits near its November peak of $2,770. Rising global tensions, including Israel's drone strike in Lebanon despite a ceasefire, fueled safe-haven demand. The US dollar's weakness, with the index stabilizing at 108.2 and down 1% this week, added to bullion's appeal. On MCX, February gold futures eased to ₹79,500 per 10 grams. Despite the slight dip, mounting geopolitical and economic uncertainties continue to support the metal's allure among investors.
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