GOLD SLIPS NEAR $2529 AS TRADERS EYE US INFLATION DATA

Published on Sep 10, 2024 14:56

Gold prices hovered near $2529 per ounce on Monday as markets stayed cautious ahead of key US inflation data set to be released this week, which could signal the magnitude of the Fed`s anticipated rate cut. Traders are closely watching the Consumer Price Index (CPI) for August, set to be released on Wednesday, followed by the Producer Price Index (PPI) report on Thursday. While August payrolls added fewer jobs, wage growth remained solid, keeping rate cut expectations uncertain. Fed Governor Waller hinted at a possible substantial reduction in rates. On the MCX, October bullion futures saw minimal change, trading at Rs 71,625, and may face resistance around Rs 71,800-900 levels.