Gold Trades Flat, Set for Slight Weekly Gain

Published on Feb 23, 2024 13:43

Gold futures traded flat in Asian electronic trading, on track to end the week with a slight increase, supported by a weaker dollar and safe-haven demand. The uncertainty over the Federal Reserve`s stance on interest rate cuts, amid mixed US economic data, also contributed to gold`s appeal. Fed Governor Christopher Waller`s comments suggesting a delay in rate cuts to assess inflation data further supported gold prices. Geopolitical tensions in the Middle East added to the demand for gold, with Houthi militants claiming attacks on commercial vessels. MCX April bullion futures traded slightly lower, remaining below the Rs 62,000 mark.