GOLD STEADY WITHIN $40 RANGE; FOCUS SHIFTS TO JOBS REPORT

Published on Dec 05, 2024 14:10

Gold remained range-bound this week, trading within a $40 range as markets awaited key payroll data. Despite a weaker dollar, with the index at 106.1, gold showed limited movement, while silver saw gains. Fed Chair Jerome Powell signaled no rush to cut rates, citing robust growth, a strong labor market, and persistent inflation. Geopolitical tensions, including South Korea�s political turmoil and potential conflict in the Middle East, continued to support gold�s safe-haven appeal. On MCX, bullion futures slipped ₹200 to ₹76,900, with supports at ₹76,700 and ₹76,450. Investors await Friday�s November jobs data for further clarity on the Fed�s policy outlook.