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Gold price in the international market touched a two-month low of around $1,992 per ounce level due to higher-than-expected US CPI data. However, some value buying enabled the metal to regain some ground
Both oil benchmark contracts lost more than $1 per barrel on Wednesday, pressured by the rise in US crude inventories as refining dropped to its lowest levels since December 2022.
Gold rate today: Geopolitical tensions in the Middle East and the US government revising last year's inflation figures may support gold prices in the near term, believe experts
MCX gold rate bounced back strongly and regained around ₹600 per 10 gm after hitting a five-week low last week
The Federal Reserve's dovish December pivot has boosted the case for the weakening dollar to keep falling into 2024, though strength in the U.S. economy could limit the greenback’s decline.