Gold sees solid gains, US inflation figures in focus

10-May-24   17:21 Hrs IST
COMEX Gold futures soared sharply today, adding to massive gains in overnight trades as a bounce from one month low under $2300 per ounce extended. The commodity jumped 1.70% today to trade at $2380 per ounce. These are the highest levels in last two weeks for the counter. Gold has galloped despite firm equities. The US dollar index that measures the greenback against a basket of currencies is quoting at 105.11, almost unchanged on the day, softening after good gains this week. Investors now await next week's April US producer price index (PPI) and the consumer price index (CPI) for clarity on the inflation trend trajectory.

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