GOLD STEADY AT $2535 AMID FED AND ECB RATE SPECULATIONS

Published on Sep 12, 2024 15:08

Gold held firm at $2535 per ounce in early Thursday trading, as investors assessed US inflation data and anticipated next week�s Federal Reserve rate decision. The core CPI increased by 0.3%, while headline inflation eased to 2.5%, bolstering expectations of a smaller rate cut from the Fed. Meanwhile, the European Central Bank is expected to lower rates by 25bps later today, with markets closely monitoring for signals of further cuts. On the MCX, October bullion futures dipped below Rs 72,000 per 10 grams, though still gained Rs 38.