MetalsPre-market
Gold prices near ₹4,000 amid US economic concerns
pre-market1 source ↓written by the desknot a recommendation
- are hovering
- ₹3,985
- reported in October
- 150,000 job cuts
- before retreating
- ₹4,019
- of gold
- 1,136 tonnes
Gold prices are hovering around ₹3,985, supported by increased safe-haven demand amid US economic uncertainties, including a potential government shutdown and over 150,000 job cuts reported in October. The weakening US Dollar has further bolstered gold's appeal, leading to speculation about a Federal Reserve rate cut in December.
• Gold reached a daily high of ₹4,019 before retreating.
• Central banks purchased a record 1,136 tonnes of gold in 2022.
These factors may keep gold prices elevated in the near term.
Not investment advice. For informational purposes only.