Analysts blamed uttik for the fresh purchase by the participants.
However, global gold prices
At least, 0.14% at $ 2,911.90 an ounce in New York with comex gold futures.
Major factors running gold prices
Kaynat Chainwala, AVP-Commodity Research in Kotak securities cited geopolitical stress and business concerns as major drivers.
“Ukraine’s biggest drone attack on Ukraine’s Moscow and Russia’s rhetoric, promoted safe-heaven demand for gold. Meanwhile, the data opening of the US job saw an increase of 7.74 million in January, which could affect the expectations of the federal reserve rate,” Chenwala said.
Given further, investors are closely looking at the US Consumer Price Index (CPI) data.
According to Bloomberg’s estimates, after an increase of 0.5% in January, the CPI is expected to increase 0.3% in February.
A high-to-adaptable inflation reading is expected to cut several fed rates in 2025, which puts pressure on gold prices.
Gold tug-off-war at high levels
Prithviraj Kothari, managing director of Riddisiddhi Bullions Limited (RSBL), said that the gold market is watching “tug-off-wars” at a high level.
While a potential Ukraine ceasefire can weigh on gold, the fed rate continues to support uncertainty and business tension prices on the path.
DVP-Rest in Angel One Limited, Non-AGRI commodities and currencies, Pratamesh Mallya said that a weak US dollar index has helped to make gold speed more.
However, he warned that the role of gold in the form of inflation rescue may weaken if the high interest rate continuously reduces its appeal.
Approach to gold prices
Waiting for US inflation figures, gold may be unstable. A soft reading can strengthen the expectations of the rate cut by supporting gold prices. However, any signal of frequent inflation can limit the profit.
,With PTI input
first published: Mar 12, 2025 2:59 pm First
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