Gold Trading Calmly, Spotlight on Key Data Releases

Published on Feb 26, 2024 14:09

Gold futures traded with subdued movement in Asia on Monday, with focus shifting to a key US inflation reading this week that could impact the Federal Reserve`s monetary policy outlook. Attention is now on the upcoming U.S. PCE price index, a crucial inflation indicator, with expectations for the Fed to maintain its current rate stance. Fed Governor Christopher Waller`s suggestion to delay rate cuts further to assess January`s inflation report has reinforced this expectation. Internationally, markets will watch inflation figures from the Eurozone, Japan, and Australia, along with PMI readings in China and the Reserve Bank of New Zealand`s interest rate decision. MCX April bullion futures were recently trading down Rs 24 at Rs 62,321 per 10 grams.