Gold Treads Water Ahead of PCE Data

Published on Mar 26, 2024 13:39

Gold futures traded sideways in Asian electronic trades on Tuesday, with markets awaiting the upcoming US PCE price index report. Last week, gold prices surged to around $2225 after Fed Chair Powell`s announcement of potential interest rate cuts. The Fed`s maintained outlook for three rate cuts this year boosted gold`s appeal. Fed Governor Lisa Cook`s cautious approach to rate cuts added to market sentiment. Investors also monitored geopolitical developments in the Middle East and Eastern Europe for potential market risks. In domestic markets, gold April futures traded lower at Rs 65960 per 10 grams.