Global market update: Wall Street rises as US Fed weighs inflation risk
US stock market ends green after Powell's balanced speech at Jackson Hole Symposium. Wall Street gains lift global market
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US stock market ends green after Powell's balanced speech at Jackson Hole Symposium. Wall Street gains lift global market
It became increasingly difficult for Gold to compete on Yield in recent sessions. Speculation also persisted of a robust US jobless claims report last week suggesting that a resilient economy is making employers reluctant to reduce headcount.
Key things to watch out for in Fed Chair Powell's speech would be the strong hint about end for the ongoing rate hike cycle and the possible timing for the beginning of rate cut cycle.
Gold price today has immediate support placed at ₹56,800 and ₹56,400 levels, say experts
Powell's remarks about a coming downshift in the pace of rate increases ignited a robust rally in equity and bond markets, which have taken a pounding this year on the back of the Fed's aggressive rate hikes. Get more World News and Business News on Zee Business.