Gold rate today nudges higher as investors await US data for US Fed rate cut cues. US inflation in focus
Live MintGold rate today: The yellow metal witnessed some buying interest in the early morning session on Thursday despite investors waiting for the US data to get a clear picture about the US Fed rate cut and the US economy. US Fed rate cut in focus "Gold price rise on Thursday can be attributed to profit-booking trigger in the US dollar rates. Investors are awaiting the slew of US data that will give a clear picture about the US economy and a certain conviction about the US Fed rate cut in 2025," said Anuj Gupta, Head of Commodity & Currency at HDFC Securities, adding, “Chances of the US Fed rate cut are looking weak after the December 2024 US Fed meeting as the US inflation still exceeds 2 per cent. So, these data are expected to clarify whether the rate cut will be implemented in the next US Fed meeting or will take place later.” According to the CME's FedWatch Tool, markets are pricing with just an 11.2 per cent chance of a rate cut in January.