Gold steady ahead of the FOMC

By Mr. Jigar Trivedi, Senior Research Analyst at Reliance Securities

Gold prices hovered around $4,210/Oz, remaining to trade within a tight range, as markets anticipated a Federal Reserve interest-rate cut later in the day while seeking clearer signals on the policy path through 2026. Most experts expect a hawkish cut, with Chair Jerome Powell likely to signal caution on further easing amid persistent inflationary pressures. Fresh data showed resilience in the US labor market, with job openings extending a streak of stronger-than-expected readings, while ADP data indicated a rebound in private hiring in late November, which adds complexity to the Fed’s outlook. MCX Gold February is expected to stay positive amid weak rupee and Rs. 130,600/10g is Resistance.

Source : Equity Bulls

Keywords

Gold Commodities RelianceSecurities PreciousMetals FOMC