GOLD HOLDS STEADY AT $2,660; INDIAN IMPORTS HIT RECORD HIGH

Published on Dec 18, 2024 15:10

Gold hovered near $2,660 per ounce, awaiting the Fed`s 25bps rate cut and guidance for 2025 amid policy uncertainties tied to the incoming Trump administration. Robust US retail sales (+0.7%) stoked chatter of slower Fed easing. The metal is set to close 2024 with stellar 30% gains, its best since 2010, fueled by safe-haven demand and central bank buying. Meanwhile, India�s November gold imports hit a record $14.8B after a levy cut, boosting annual demand by 7%. MCX February gold futures were steady, trading ₹47 higher at ₹76,918 per 10 grams.