Gold Dips for Second Session on Fed Hawkishness

Published on Jun 26, 2024 14:18

Gold futures slipped for the second consecutive session today, with traders wary ahead of key US data releases. Hawkish remarks from Federal Reserve Governor Michelle Bowman, emphasizing upside risks to inflation and the need to keep borrowing costs high, added to the selling pressure. Investors are keenly awaiting Friday`s core PCE index data, the Fed�s preferred inflation gauge, along with Q1 GDP growth and consumer spending figures. Domestic bullion futures for August expiry traded lower by Rs 32 at Rs 71435 per 10 grams.