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Gold subdued as sticky US inflation prompts rate-cut rethink.
Gold prices steadied on Wednesday, after posting its biggest decline in a month in the previous session after a sticky U.S. inflation report boosted bond yields and slightly tempered hopes for a June interest rate cut from the Federal Reserve.
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Zinc Gains After Sluggish US Retail Data Revamped Bets Of A Rate Cut By Fed.
Zinc exhibited a robust 1.64% increase, settling at 214.3, driven by renewed expectations of a rate cut by the Federal Reserve in the second quarter following lacklustre retail data from the U.S. The anticipation of looser monetary policy sparked increased industrial demand, particularly for economies connected to U.S.
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Live News :- Gold trades near a 2-week high as the market focuses on today’s Fed meeting. From :- www.globalworldcommodity.com Call us:- 7217283177 / 8218719966
The gold (XAU) price rose by 0.21% on Tuesday as a weaker US dollar made the metal more appealing for holders of other currencies.
Still, XAU/USD failed to consolidate above the critical 2,045 level, as yesterday’s drop in the US Dollar Index was inconclusive. Besides, the US macroeconomic reports were mostly stronger than expected, lowering the probability of an interest rate cut in March. While the Conference Board report revealed a minor drop in consumer confidence in January, the Bureau of Labour Statistics indicated an unexpected rise in job openings in December, showing that the labour market remains strong. Thus, the Federal Reserve (Fed) might be more willing to continue its tight monetary policy.Categories#Free Stock Trial, ACCURATE CALLS, BASEMENTAL TIPS SUCCESS, BEST ACCURACY, BEST MCX ADVISROY, BEST MCX ANALYSES, BULL CRUDE OIL NEWS, BULL GOLD SIGNALS, BULL INTERDAY CALLS, FREE 1 DAY TRIAL, GOLD SILVER SURE SHOT TIPS CALL-7471455122, SURE CALLS, Sure shot call, SURESHOT TIPS PROVIDERTagsaccurate mcx tips, commodity tips, crude oil tips free, free 100% mcx tips, free bullion tips, free commodity tips, Get Best MCX Calls, mcx commodity tips, mcx free trial
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