UPSCSSCBANKINGSTATE-PSC
Gold prices in India influenced by global factors and rupee's weakness; technicals bullish.
Summary
Gold prices in India remained rangebound, influenced by anticipation of the US Federal Reserve's policy decision and a weak rupee. International gold prices showed strength, while technical indicators suggested a continued bullish trend, impacting domestic rates.
Key Points
- Gold prices in India traded rangebound.
- Investors awaited the US Federal Reserve's policy decision.
- Global markets anticipated a 25 bps cut by the Fed.
- Domestic rates were supported by a weak rupee.
- Technical indicators signaled bullish momentum for gold.
Full Article
Gold traded rangebound in India as investors awaited the Fed’s policy decision, with global markets pricing in a 25 bps cut. International prices firmed, domestic rates stayed supported by a weak rupee, and technical indicators signalled continued bullish momentum.
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