MCX Gold News Update

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MCX Gold News Update

As per MCX intraday research Mumbai base company report for :

Gold at 3-month high on European political risks, Trump uncertainty

Gold steadied on Friday, but remained below this week’s three-month top as the U.S. dollar and Treasury yields came off their highs after the currency initially jumped on U.S. President Donald Trump’s promise of a major tax announcement. Gold prices ended a second weekly gain, up 1 percent. The dollar .DXY pared gains against a currency basket on Friday after earlier strength from U.S. President Donald Trump’s pledge to announce a major tax plan within weeks cooled some market nerves, reinvigorating dollar bulls. U.S. economic data has also stoked talk that the Federal Reserve would press ahead with U.S. interest rate hikes sooner rather than later. U.S. import prices rose more than expected in January, while initial jobless claims dropped unexpectedly last week to the lowest in nearly 43 years. Gold is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced.

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