Gold Slips as Geopolitical Tensions Ease and Focus Turns to Fed Policy

Published on Apr 15, 2024 15:00

Gold futures started the week with a slight decline of around $10, following last week`s record high of $2448 per ounce. The drop was influenced by reduced geopolitical concerns, as Israel successfully defended itself against an Iranian air assault, easing tensions in the region. The US also expressed its desire to avoid further escalation in the Middle East. Investors are awaiting insights from several Federal Reserve officials speaking this week, seeking clarity on future policy decisions. Today, focus will be on US retail sales and Empire State manufacturing data. Strong economic indicators, particularly last week`s unexpectedly high inflation figures, have caused investors to reassess their expectations for Fed rate cuts. MCX June delivery futures were marginally lower at Rs 71819 per 10 grams.