Page 30 - Multi Commodity Exchange News Today

A slight uptick in US core inflation appears to have bolstered US Fed view that interest rates may need to remain on hold for months to come

Analysts say the focus today will be on US and India CPI data

Unexpected strength in the US labour market pushed Treasury yields up, diminishing investors’ appetite for gold

In Chennai, the price for 10 grams of 22-carat gold is Rs 57,650, and for the same amount of 24-carat gold, it's Rs 62,890.gold

Gold rate today in India: Know retail gold price in different cities on December 10

Analysts say weaker-than-expected jobs data could weigh on the dollar and lift precious metal prices

The market also recorded its biggest weekly gains since July 2022, with the Sensex and the Nifty gaining 3.5 percent each

On December 07, gold futures expiring on February 05, 2024, were trading at Rs 62,344 on the Multi Commodity Exchange.

Analysts advice traders to book their long positions and take fresh short positions

In the previous session the market was spooked by data showing US output remains near record highs even though crude inventories declined.