GOLD STEADIES AMID RISING GEOPOLITICAL RISKS AND STRONG US JOB DATA

Published on Jan 03, 2025 15:17

Gold maintained its position near $2665 per ounce, bolstered by safe-haven demand. The dollar index moved above 109 on Friday, remaining near its highest levels in two years as investors bet on US economic strength and fewer Federal Reserve rate cuts this year. Geopolitical tensions, including recent attacks in Kyiv and Gaza, kept investors cautious, while strong U.S. job data highlighted economic resilience. MCX gold futures for February traded at ₹77625, down ₹92, with support seen at ₹77500 and resistance at ₹78000. Looking ahead, investors are focused on Friday�s ISM Manufacturing Index and upcoming commentary from Fed officials for further insights into economic conditions.