Gold Gains Amid Market Caution and Geopolitical Concerns

Published on May 28, 2024 13:46

Gold futures remained stable near $2325 an ounce in Asian electronic trading as investors exercised caution ahead of the US PCE inflation report, seeking insights into the Fed�s policy stance. Geopolitical tensions in the Middle East supported gold`s safe-haven appeal following an Israeli airstrike in Rafah, prompting global calls to halt the assault. Meanwhile, China`s net gold imports via Hong Kong dropped by 38% in April. MCX June bullion futures traded at Rs 71,862, down Rs 147 per 10 grams.