Gold Marches Near Lifetime Highs; MCX Breaks past Rs 67k mark

Published on Mar 28, 2024 14:24

Gold futures surged towards all-time high levels in Asian electronic trading, with markets eagerly anticipating key US inflation data that could impact Federal Reserve monetary policy. Geopolitical risks in Ukraine and the Middle East continued to support gold prices. The US PCE price index report, the Fed`s preferred inflation gauge, is set for release on Friday. Fed Governor Christopher Waller`s comments suggesting a potential delay in interest rate cuts amid strong inflation data further influenced market sentiment. MCX June bullion futures rose above Rs 67000, up nearly Rs 200 per 10 grams, with a potential move towards Rs 67700 resistance levels.