GOLD LOSES SHINE AHEAD OF KEY FED POLICY UPDATES

Published on Dec 17, 2024 15:16

Gold futures slid under $2,560, shedding over $10, as market sentiment turned cautious ahead of the Fed`s two-day meeting. While a 25 bps rate cut is largely expected on Wednesday, traders are closely watching the Fed`s updated projections, especially the outlook for rate cuts in 2025. Strength in US dollar also added to pressure in the bullion futures, the dollar index hovered near 106.7 as traders stayed cautious ahead of the Fed`s policy announcement. On the global front, policy updates from the Bank of England and the Bank of Japan are also in focus, adding to the cautious sentiment. Back home, MCX February gold dipped below the ₹77,000 mark, losing around ₹350 per 10 grams in today`s session.