Page 4 - Gold Return News Today

US inflation data is expected to show a mild pick-up in December, which, coupled with the strong non-farm payrolls data, gives the US Fed more headroom to keep rates higher for longer

US Federal Reserve Governor Michelle Bowman says inflation could fall toward the Fed’s 2% target with interest rates at current levels, which is being seen as backing for lowering borrowing costs

A fall in rate cut expectations and a mixed set of data points from the US supported a rise in the dollar index and US yields

Analysts say the focus today will be on the US non-farm payroll and unemployment rate, which could provide clarity on overall strength in the labour market and the Fed’s path ahead

Analysts say that bets for a rate cut in March dropped from 75% to 65% last week, supporting an up-move in the dollar index and US yields

The possibility of an escalation of tensions in the Red Sea and updates regarding other geopolitical tensions supported gold prices

According to the CME FedWatch Tool, traders are pricing in a 75% chance of monetary policy easing in March

Meanwhile, silver opened at Rs 74,550 per kg, hit an intraday low of Rs 73,873 on the MCX, and hovered around $23.85 per troy ounce in the international market.

Meanwhile, silver opened at Rs 75,743 per kg, hit an intraday low of Rs 75,632 on the MCX, and hovered around $24.45 per troy ounce in the international market.

Meanwhile, silver opened at Rs 75,231 per kg, hit an intraday low of Rs 75,110 on the MCX, and hovered around $24.40 per troy ounce in the international market.