Gold price today: MCX gold rate climbs 1.4% this week despite US Fed’s slower rate cut stance, sticky US inflation
Live MintGold price today: Despite the US Fed's signalling rate cut at a slower pace amid sticky US inflation and a strong labour market, the MCX gold rate registered gains for the third week in a row. According to commodity market experts, gold prices today are bullish due to the weakness of the Indian National Rupee against the US dollar and global uncertainties surrounding the US President-elect Donald Trump's swearing-in ceremony date. They said that the MCX gold rate today is in a broader range of ₹76,000 to ₹78,800, while the immediate short range of gold price today is ₹77,700 to 78,800 per 10 gm. Uncertainty ahead of Donald Trump's oath date Speaking on the reasons that fueled MCX gold rates despite the strong US dollar and US Fed not in a hurry to cut interest rates, Anuj Gupta, Head — Commodity & Currency at HDFC Securities, said, "Despite soaring US dollar against the major global currencies in the Forex market and US Fed signalling a slower pace of interest rate cut in December 2024 meeting, MCX gold rate surged for the third week in a row.