Gold held steady near its record high on Tuesday as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell’s speech for indications on how much the central bank will cut rates this year. Spot gold edged 0.2% higher to $2,500.08 per ounce by 0254 GMT, trading slightly below an all-time high of $2,509.65 hit
InCred Equities Nifty 50 Overview: •\u0009Resistance Levels: 24,622, 24,650, 24,694 (based on pivot points) •\u0009Support Levels: 24,534, 24,507, 24,462 (based on pivot points) •\u0009Market Sentiment: As long as Nifty 50 sustains above 24,500-24,550, it is likely to move towards 24,700-24,800. A fall below the 24,400-24,300 range could trigger further downside. •\u0009Candlestick Pattern: Despite forming a
INDIA 1)India’s retail inflation in July dropped to 3.54%, marking a near five-year low as food prices eased, government data showed. The actual figure fell below the Reserve Bank of India’s 4% target, primarily due to a high-base effect from last year. 2)Food prices, which constitute nearly half of the retail inflation basket, saw a
Gold price trades close to record highs near $2,500 early Monday. The US Dollar sees fresh selling amid risk appetite, sluggish US Treasury bond yields. Dovish Fed bets heighten ahead of Chair Jerome Powell’s speech and FOMC Minutes. Gold price charted a symmetrical triangle breakout on Friday, with upside bias still intact. Gold price is
Inflation is a growing concern, and more people are worried about how the upcoming presidential election will affect the economy. With those issues at hand, it’s no surprise that there is an increased interest in gold. As of July 7 2024, the price of gold is over $2,300 per ounce, 20% increase from a year
Gold has outperformed the broader U.S. stock market this year, and Wall Street is turning more bullish on the precious metal as the Federal Reserve gets closer to rate cuts. Bullion has jumped about 21% in 2024, while the S&P 500 has climbed 16%. On Friday, gold shot up as much as 2.2% to a
Google searches for the phrase “How To Trade Gold” are now back at the highest level seen in over a decade! This comes as no surprise, considering the current macroeconomic backdrop is fuelling a “perfect storm” for Gold – firmly positioning the precious metal as one of the best performing asset classes of 2024. Gold’s meteoric rise to
Gold price trades flat around $2,455 in Friday’s early Asian session. US July Retail Sales beat expectations, rising 1.0% MoM; Initials Jobless Claims fell 7K to 227K last week. The escalating geopolitical risks in the Middle East might cap the Gold’s downside. Gold price (XAU/USD) flat lines near $2,455 during the early Asian session on
Gold price failed to build on the overnight positive move in the wake of the upbeat US data. Easing US recession fears boost investors’ confidence and contribute to capping the metal. Geopolitical risks and bets on an imminent start of the Fed’s rate-cutting cycle lend support. Gold price (XAU/USD) attracted some dip-buying near the $2,432
Gold price regains some positive traction following the overnight post-US CPI decline. Persistent geopolitical risks and Fed rate cut bets continue to offer support to the metal. A modest USD uptick and a positive risk tone could act as a headwind for the XAU/USD. Gold price (XAU/USD) witnessed an intraday turnaround from the vicinity of