|
Gold futures sustained substantial declines amid persistent inflationary anxieties. Recent US inflation data bolstered anticipations of a Federal Reserve (Fed) interest rate increase later in the year. US Personal Consumption Expenditures (PCE) Price Index advanced 0.5% in September, following a 0.3% increase in August, according to data released by the Commerce Department’s Bureau of Economic Analysis. This development exerted downward pressure on precious metals, prompting COMEX Gold to approach a four-month trough. The yellow metal is presently valued at $4006 per ounce, reflecting a 0.60% decrease on the day. It has relinquished approximately 30% from its peak and has retreated roughly 4% over the past three months. MCX Gold futures experienced a plunge below Rs 150000 per 10 grams and are currently quoted at Rs 141902 per 10 grams, down 0.49% on the day.
|