Gold Rebounds Toward $2,030 as Dollar Eases; Global Monetary Policy in Focus

Published on Jan 23, 2024 13:36

Gold climbed toward $2,030 per ounce on Tuesday, recovering losses as the dollar retreated from recent highs, with investors closely monitoring global monetary policy. In Asia, the Bank of Japan maintained ultra-easy monetary settings but revised down its 2024 inflation forecast due to lower oil prices. The European Central Bank is anticipated to resist expectations of interest rate cuts in its upcoming meeting. In the US, attention is on private sector activity, GDP, and PCE inflation figures this week, setting the stage for the Federal Reserve`s policy meeting next week. MCX February delivery gold futures edged up Rs 236 to Rs 62,104 per 10 grams.