Gold prices jumped in the domestic futures market in the morning session on Friday. MCX Gold was trading 0.22 per cent higher at ₹78,272 per 10 gram at 9:15 am on Friday amid positive global cues. Rising US bond yields and a stronger US dollar limited the precious metal’s gains. Gold prices remained near four-week high in international markets. The yellow metal is set for its best week since mid-November. However, US Treasury yields near eight-month highs loom as a key risk to gold prices.
condition of gold in the last session
In futures trade on Thursday, the price of gold rose by Rs 118 to Rs 77,865 per 10 grams. In the Multi Commodity Exchange (MCE), the price of the contract for delivery in the month of February increased by Rs 118, or 0.15 percent, to Rs 77,865 per 10 grams. 11,431 lots were traded in this. Market analysts said that gold futures prices rose due to buying of fresh deals by traders.
In the bullion market of the national capital, the price of gold had increased by Rs 300 to Rs 80,300 per 10 grams on Thursday. The price of gold of 99.5 percent purity increased by Rs 300 to Rs 79,900 per 10 grams.
Trump’s tariff policies likely to increase inflation
Investors are now eyeing US jobs data. This will influence expectations about the US Federal Reserve’s interest rate path in the near future. Recent US macroeconomic data indicated strength in the US economy. There are concerns that President-elect Donald Trump’s tariff policies could increase inflation, making further interest rate cuts less likely. Gold rises in times of economic recession and interest rate cuts.
Latest Business News