Gold Price Today, 13 Feb- Gold flat as traders eye US inflation data, US Treasury yields may rebound
时间:2024-09-29 04:04:34 阅读(143)
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold rate is trading flat on Monday as a result of mixed, while the silver rate is down 0.55%. On Multi Commodity Exchange, gold April futures were trading at Rs 56,728 per 10 grams, down Rs 13 or 0.02%. Silver March futures were trading lower by Rs 364 at Rs 66,300 per kg on MCX.
Globally, the yellow metal prices were lower on Friday as traders awaited U.S. inflation data that would give an insight into the US Fed’s monetary policy trajectory, according to Reuters. Spot gold was up 0.2% to $1,864.10 per ounce. US gold futures for February delivery settled 0.2% lower at $1,874.50 per ounce.
Gold likely to trade with negative bias: ICICIdirect reportGold prices slipped amid a surge in the dollar index and US treasury yields. Yields moved up as several US Federal reserve officials insisted on a tighter monetary policy for some time to rein the inflation. Additionally, the uptick in US preliminary inflation expectation to 4.2% against the previous reading of 3.9% ahead of key CPI numbers has increased the bets for rate to remain at a higher level.
Gold prices are likely to trade with a negative bias amid a rebound in US treasury yields. Further, investors’ fears risk of higher readings after the Labour department revised its CPI data for the prior three months. Furthermore, futures now price Fed target rate to stay above 5% from May to November, with only a slight decline to 4.862% in December. MCX Gold is hovering near key support at 56,540. A move below would weaken the price towards next key support at 56,200. MCX silver has breached the key support of 50 day EMA at 67,200. Hence, it is expected to slide towards initial support at 66,100.
猜你喜欢
- Paytm, Adani Enterprises, Yes Bank, Vedanta, Axis Bank, TVS Motor Co, Ultratech Cement stocks in focus
- OnePlus Ace 2 Pro launched- Top specs, features, price and more
- Paytm loan disbursement grows five-fold in October, merchant payments rise
- Petrol and diesel price April 29- Fuel rates kept unchanged; Check prices in Delhi, Mumbai, other cities here
- King Charles III’s annual Christmas message from Buckingham Palace to include sustainable touches
- Markets end in positive zone after volatile session; realty and banks shine even as IT and pharma struggle
- JSW Infrastructure opens, price band at Rs 113-119; should you subscribe to the issue-
- Market short-term texture mildly overbought; stick to level-based trading; Adani Ports among stocks to buy
- LIC contributes big to dazzling rise in ITC stock