Gold gains in Asia; rangebound ahead of key us releases

Published on Aug 29, 2024 14:22

Gold futures edged above $2,550 per ounce in Asian trades on Thursday, though the market remained tightly rangebound as traders awaited crucial US economic data. The dollar index held near 101, reflecting market anticipation for today`s Q2 GDP second estimate and jobless claims, with the Fed`s preferred inflation measure, the PCE price index, expected on Friday. Meanwhile, China`s net gold imports via Hong Kong rose by 17% in July, the first increase since March. On the MCX, October bullion futures traded higher by ₹218, reaching ₹71,961 per 10 grams.