MCX GOLD RALLIES TO ₹78,415 ON MCX, TOPS $2700 GLOBALLY

Gold futures soared above $2700 an ounce in Asian electronic trades, buoyed by pre-payroll positioning and steady US dollar performance. The market eyes the December nonfarm payrolls report, with expectations that robust data could temper Federal Reserve rate cut projections. Fed minutes this week hinted at a cautious approach to easing amid inflation worries. Adding to the glitter, the World Gold Council revealed the first inflows into physically-backed gold ETFs in four years, fuelled by Asian demand. North American funds posted their first annual inflow since 2020, while European outflows tapered. On MCX, bullion futures surged ₹311 to ₹78,415 per 10 grams, reflecting the upbeat sentiment.

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