GOLD GLOWS ON WEAK DOLLAR; CHINA GOLD RESERVES SURGE

Published on Jan 07, 2025 15:30

Gold futures steadied near $2,655 per ounce on Tuesday, supported by geopolitical tensions and a weaker US dollar ahead of this week�s key US jobs data. China�s gold reserves rose slightly to 73.29 million troy ounces, but their value declined to $191.34 billion due to falling gold prices. Investors are closely monitoring the Federal Reserve�s latest meeting minutes and labor market updates, which could shape interest rate expectations. Fed Governor Lisa Cook emphasized a cautious approach to rate cuts, citing resilient labor markets and inflation concerns. On MCX, gold rose by over ₹100, reaching a session high of ₹77,381 per 10 grams.