Gold Prices Steady As Traders Weigh US Midterms And Fed Rate Outlook
· Business · Economic Times, Bloomberg
Gold prices held steady on Tuesday following a slight recovery in the previous session driven by easing crude oil prices. MCX gold futures settled at Rs 1.40 lakh per 10 grams on Monday, snapping a two-day losing streak. In international markets, spot gold rose 0.3 percent to $3,960.80 per ounce, recovering from a one-year low touched on Friday. Traders are closely monitoring the US midterm elections for fiscal policy directions while pricing in a 73 percent probability of a Federal Reserve interest rate hike in December.
Why it matters
Gold market fluctuations directly impact retail bullion demand, domestic investment portfolios, and inflation hedging strategies for Indian investors.
Read the original report — Economic Times
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.