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Gold Inches Up to $2400 on Weak Dollar and Geopolitical Tensions Back
(14:21, 18 Apr 2024)
Gold edged higher to $2400 per ounce on Thursday, supported by a weakening dollar index. The dollar index fell for the second consecutive session, remaining below 106, but still close to over five-month highs. Federal Reserve Chair Jerome Powell's comments, signaling no rush to cut interest rates, further bolstered the dollar. Concerns about the Middle East conflict spreading to other regions boosted demand for safe-haven assets, with strong central bank purchases also supporting gold. In MCX June delivery bullion futures, prices rose by around Rs 100, reaching a high of Rs 72655 per 10 grams.

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