Gold on a track to end the week with gains

Ahmedabad, 19 December: Gold traded around $4,320/oz, near its October record high and on track for a second weekly gain, as softer-than-expected US inflation strengthened expectations of further interest-rate cuts. November inflation slowed to 2.7%, below forecasts of 3.1%, with core CPI at 2.6%, its slowest pace since March 2021. However, the data was limited by the federal shutdown, which disrupted the BLS’s collection of October prices and month-over-month analysis.

Markets currently assign about a 25% chance of a rate cut in January, with near certainty by April. Geopolitical tensions have also supported the metal, with the US halting sanctioned Venezuelan oil shipments following a tanker seizure and President Putin reaffirming territorial claims in Ukraine. Bullion has surged roughly 65% this year, marking its strongest annual gain since 1979. MCX Gold February futures is likely to stay in a range from Rs 134,000 to Rs 135,000 per 10gm.

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(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)