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    Vikshita Vitthal Gujaran in News

    28 Mar 05:14 AM


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    Gold Prices Today: Yellow metal extends gains as investors await US inflation data, silver up 0.6%

    According to commodity market experts, gold prices have retraced from recent highs due to the profit-booking. The yellow metal still possesses steam and may soon touch record-high levels soon as the US Fed rate cuts are expected to inject further momentum in prices. Rate cut means easy money, which means more inflation, and gold is seen as a hedge against inflation.
    Spot Gold Prices
    At 9:53 am EDT (1353 GMT), spot gold was up 0.6 per cent at $2,191.88 per ounce, while US gold futures rose 0.6 per cent to $2,190.50. The US Core Personal Consumption Expenditures Price Index (PCE) data for February is due on Friday. The PCE rose 0.3 per cent in January.
    Gold Prices in India
    Back home, the Multi Commodity Exchange (MCX) session, gold futures contracts set to expire on April 5, 2024, last traded 0.33 per cent higher at ₹66,320 per 10 grams. The session hit a day's high of ₹66,499 per 10 grams so far against a previous close of ₹66,114 per 10 grams.

    Source - Mint