GOLD MIXED AMID CHINA POLICY SHIFT, STRONG DOLLAR

Published on Dec 10, 2024 14:47

Gold showed mixed movement in electronic trading on Tuesday, as support from China�s policy shift and Middle East tensions was offset by a stronger US dollar, which held steady at 106.3. China�s Politburo announced plans to loosen monetary policy for the first time in 14 years, boosting sentiment across commodities, while its central bank added gold to reserves after seven months, lifting demand. MCX February gold futures traded lower by ₹26 at ₹77460 per 10 grams. Traders now await US inflation data, which could shape Federal Reserve policy, along with monetary policy updates from Australia, Canada, and Switzerland that could drive global market volatility.