23-Sep-2024      14:56

Gold edges down as investors await Fed officials' insights

Gold futures fell to around $2640 per ounce in Asia on Monday as investor's awaited key economic data and speeches from Federal Reserve officials. MCX bullion futures also dropped below the Rs 74,000 mark, while December silver futures fell by over Rs 1500 per kg. Upcoming US manufacturing and services PMI data, along with PCE prices, personal income, and spending reports, are being closely monitored. The uncertainty surrounding the Federal Reserve's rate path is adding to market caution. Meanwhile, escalating tensions in the Middle East, marked by intensified cross-border attacks between Israel and Hezbollah, have reinforced gold's safe-haven appeal.

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