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As on : 02-Sep-2024
Other Markets - Bullion Markets
02-Sep-2024     14:21

Gold recovers to $2530; markets brace for key us jobs report

Gold edged back up to the $2530 per ounce mark on Monday, extending its pullback from record highs last week, driven by the strength of the dollar. The dollar index held steady at 101.6, having gained for three straight sessions, as traders turned their focus to the upcoming US jobs report. Last week's data showed US PCE inflation holding steady, which cooled speculation around a significant Fed rate cut in September. The Fed is now shifting its focus to the labor market, while the ECB might also cut rates as Eurozone inflation decelerates in August. MCX October bullion futures traded higher by Rs 124 at Rs 71735 per 10 grams.

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