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Gold Maintains Steady Climb in Tight Trading Ranges

Published on Feb 21, 2024 13:43

Gold futures extended their upward trajectory in Asian electronic trading, albeit within a narrow range. With minimal economic developments today, the market is expected to trade cautiously. The weakening US dollar and persistent safe-haven demand remained supportive factors for the precious metal. The recent missile attacks by Houthi militants on two US ships in the Gulf of Aden further fueled geopolitical tensions, adding to gold`s appeal. The dollar index slipped below 104 against a basket of six major currencies. MCX April bullion futures maintained a steady position above the Rs 62,000 per 10 grams mark, up Rs 25.

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