Gold Price Today, 22 Feb- Gold flat, dollar edges up; positive US services data increases rate hike concerns
时间:2024-09-27 18:36:57 阅读(143)
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading flat on Wednesday despite negative global cues, while the silver rate is down 0.32%. On Multi Commodity Exchange, gold April futures were trading at Rs 56,161 per 10 grams, down Rs 7 or 0.01%. Silver March futures were trading lower by Rs 212 at Rs 65,566 per kg on MCX.
Globally, the yellow metal prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting to assess prospects of further interest rate hikes, according to Reuters. Spot gold was up 0.1% at $1,835.40 per ounce. U.S. gold futures firmed 0.1% to $1,845.10.
“However there are also concerns about a slowdown in global growth which was alarmed by housing numbers which showed some pressure. Market participants’ focus this week will be on the FOMC meeting minutes, U.S. GDP and Core PCE data. Broader trend on COMEX could be in the range of $1820-1860 and on domestic front prices could hover in the range of Rs 55,820-56,500,” said Manav Modi, MOFSL.
Upside potential for gold appears to be limited“Gold prices on Tuesday slipped lower, as it lost 0.37 percent and concluded at 1834.3 per ounce. The U.S. Federal Reserve’s most recent policy meeting’s minutes, which may provide information about future interest rate increases, are eagerly expected by investors. The market anticipates the U.S. central bank to keep interest rates above 5% throughout the year. The U.S. central bank increased rates by 25 basis points in its recent meeting.
“U.S. business activity unexpectedly rebounded in February, reaching its highest level in eight months, according to a survey on Tuesday, which also showed inflation subsiding. Given the dollar’s continued strength and the likelihood that the U.S. Fed will continue raising interest rates, the upside potential for the yellow metal appears to be limited,” said Prathamesh Mallya, Angel One.
上一篇:Quest of life on Mars- Evidence of flowing water captured in photograph by NASA’s Perseverance
下一篇:Xiaomi TV Stick 4K- Quick first look at Xiaomi’s Amazon Fire TV Stick 4K rival
猜你喜欢
- Tata Motors stock outlook- Hits new 52-week high post Q4 results; will it rise more as auto sector grows-
- Global stocks rise after US inflation cools
- Suzlon, HAL, TVS Motors among 87 NSE stocks to hit 52-week highs; 12 touch 52-week lows
- GLOBAL MARKETS-Equities rise on US debt deal hopes; Treasury yields also gain
- Tamilnad Mercantile Bank shares end flat after tepid debut
- Global Markets- World stocks eye glum 2022 while dollar triumphs
- Tata Motors, TVS, HAL, IDFC among 79 NSE stocks to hit 52-week highs; 6 touch 52-week lows
- Stocks to watch- Titan, Adani Enterprises, Adani Wilmar, HDFC, Havells India, TVS Motors, NDTV
- Gold Price Today, 15 Sep 2022- MCX gold looks vulnerable till 49500, sell on rise; check support, resistance