Stay updated with breaking news from Spot Silver. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The U.S. dollar index surged by 0.5%, and U.S. Treasury yields experienced an uptick after the release of the data, diminishing the appeal of non-yielding bullion.
As of 10:57 a.m. EDT (1456 GMT), spot gold climbed by 1.3% to $2,320.04 per ounce, reaching a peak of $2,324.79 earlier in the trading session.
The upcoming release of the U.S. core personal consumption expenditure (PCE) price index report, scheduled for Friday, holds significance for investors as it provides insights into the Federal Reserve's policy direction.
Gold traded higher by 300rs around 66300 in MCX as Comex gold found support near 2170$ and rallied to 2195$ with backed up from the FED's dovish statements the gold prices are broadly in positive trend, said Jateen Trivedi, VP Research Analyst, LKP Securities.
MCX will start Tuesday's trade with delay. Gold futures were up by Rs 12 and traded at Rs 62,090 per 10 grams on the MCX. Silver futures, on the other hand, witnessed a hike of Rs 40 or 0.06 per cent and traded at Rs 71,049 per kg.