Gold futures fall globally as dollar strengthens

Published on Aug 28, 2024 15:23

Gold prices declined in international markets today, driven by a stronger dollar, which climbed to 100.7 but stayed near its lowest point since December 2023 due to expected Federal Reserve rate cuts. The market focus is on upcoming US economic data, including the PCE index and Q2 GDP figures. Despite these pressures, gold`s safe-haven demand remains strong amid heightened tensions in the Middle East. Domestically, MCX October bullion futures dropped by ₹192 to ₹71,930 per 10 grams.