Gold price today: MCX Gold rate lacklustre ahead of Fed Chair Powell’s speech; experts share strategy for bullion trade
1 month, 1 week ago

Gold price today: MCX Gold rate lacklustre ahead of Fed Chair Powell’s speech; experts share strategy for bullion trade

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Gold price today: MCX Gold rates were lacklustre in early trading on Wednesday, December 4, as investors limited their bets, seeking greater clarity on the US Federal Reserve's interest rate trajectory. International gold prices held steady as market participants awaited additional US jobs data and remarks from Federal Reserve Chair Jerome Powell to gain further insights into the US interest rate outlook. Experts strategy for bullion trade Rahul Kalantri, VP of commodities at Mehta Equities, observed that the upcoming speech by the US Federal Reserve Chairman and the US ADP non-farm payroll data, due later today, could provide further direction for the precious metals market. "Gold has support at $2,654-2,640, while resistance at $2,680-2,700 per troy ounce and silver has support at $31.10-30.80, while resistance is at $31.74-32.00 per troy ounce in today’s session.

History of this topic

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