Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Gold firms as dollar eases; spotlight on Fed meeting, US inflation data

Spot gold was up 0.2% at $1,793.16 per ounce, as of 0241 GMT, but fell 0.3% so far this week. U.S. gold futures rose 0.2% to $1,804.80.

December 09, 2022 / 08:51 AM IST
Representative image

Representative image

Gold prices ticked up on Friday helped by a softer dollar, while investors braced for key U.S. inflation data and Federal Reserve's rate hike decision due next week.

Spot gold was up 0.2% at $1,793.16 per ounce, as of 0241 GMT, but fell 0.3% so far this week. U.S. gold futures rose 0.2% to $1,804.80.

The dollar index was down 0.1%. A weaker dollar makes gold more attractive to buyers holding other currencies.

There is a real chance of upward accretion in gold as we head into next week's Fed meet and CPI data, said Clifford Bennett, chief economist at ACY Securities.