21-Nov-2023      14:02

Gold Hits 2-Week Peak Amid Dollar Dip; Eyes on FOMC

Gold futures reached a two-week high during early European trades, buoyed by a weakening dollar ahead of the upcoming FOMC meeting minutes. The expectation is for the US central bank to maintain unchanged rates in December, with a 30% market anticipation of a potential rate decrease as early as March 2024. Investors are eagerly awaiting the FOMC minutes and upcoming US economic data for further insights. The market's positive response to China's potential stimulus measures to bolster post-pandemic recovery continues to influence investor sentiment. COMEX gold benchmark contracts rose by $14 to $1994.40 per ounce, while MCX December bullion futures surpassed Rs 61000, trading up by Rs 387 per 10 grams.

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