2 weeks Ago
Gold rate today: Gold prices rose in the domestic futures market on Tuesday morning, buoyed by robust demand in the spot market on the auspicious occasion of Dhanteras. However, the dollar's rise and caution ahead of key US macro data this week capped gains for the yellow metal. MCX Gold for December 5 expiry traded 0.
30 per cent up at ₹ 78,800 per 10 grams around 9:20 am. According to a Reuters report, the US dollar was headed for its best month in 2-1/2 years on Tuesday, as it eyed a 3.5 per cent gain against a basket of currencies.
Since gold is priced in the dollar globally, its rise makes the yellow metal expensive in other currencies and weakens its demand. Investors will examine significant US macro data, including September job openings and October consumer confidence data, later in the day. These data will offer fresh insights into the health of the US economy and influence sentiment about the US Fed rate cuts in November.
(More to come).
