MCX Gold Tips [12 September, 2024]: As Expected MCX Gold Kiss High 72,880. My Final Target is Rs. 72,880. Same to same fully target hit.
- As Expected MCX Silver Kiss High 87,300. Check Next Big Target
- ट्रेडिंग प्लान: क्या अमेरिकी सीपीआई डेटा के बाद निफ्टी और बैंक निफ्टी में उछाल आएगा?
- Gold Edges Higher Amid Softer U.S. Dollar and CPI Expectations
- Tata Motors stock plummets 5.5%, dips below ₹1000 mark after UBS keeps ’sell’ rating
- ब्याज दर में 50 आधार अंकों की कटौती की संभावना कम होने से सोना 2,500 डॉलर के आसपास कारोबार कर रहा है
- Metals – Iron ore breaks below $90/t
MCX Gold Tips [12 September, 2024]
- Neal Bhai MCX Gold Tips Fully Hit.
- Gold 72,301 To Rs. 72,880.
- 580 Points Done.
- Profit Rs. 58,000 Per Lot.
Spot Gold Hits New All Time Record
Gold prices soared over 2% to a record $2,560 per ounce on Thursday, driven by expectations of an upcoming Federal Reserve rate cut amid signs of a slowing US economy.
The US Labor Department revealed that initial jobless claims rose by 2,000 to a seasonally adjusted 230,000.
Meanwhile, producer prices in the US increased slightly more than anticipated in August, due to rising service costs, although the overall trend suggested easing inflation.
According to the CME FedWatch tool, markets now see a 71% probability of a 25-basis-point rate cut at the Fed’s meeting on September 17-18, with a 29% chance of a 50-basis-point cut.
A more accommodative monetary policy tends to favor gold by lowering the opportunity cost of holding non-yielding assets.
In Europe, the ECB also cut rates by 25 basis points, reflecting growing confidence among policymakers that inflation is on a sustained downward trend.
The ECB joins other global central banks in reducing rates to combat falling inflation.
