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As on : 14-Nov-2024
Other Markets - Bullion Markets
14-Nov-2024     14:44

Dollar strength pressures Gold, MCX prices fall below ₹74,000

Gold futures dropped to $2,555 per ounce on Thursday, marking a fifth straight session of losses and an eight-week low, weighed down by a robust US dollar, which held above 106.65'it's highest in a year. The dollar's strength followed the latest CPI data, showing US annual inflation at 2.6% for October, with core inflation steady at 3.3%. Fed officials, including Kashkari and Logan, expressed confidence in meeting inflation targets through gradual rate adjustments. Meanwhile, December gold on MCX slid below ₹74,000 per 10 grams, down over ₹700. Investors now await PPI data and jobless claims, with retail sales on Friday.

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