Gold price for April 5 delivery is trading higher on Thursday, March 28, by 0.24 per cent at 66,525. The price of gold stands at Rs 6,170 per gram for 22 karat gold and Rs 6,731 per gram for 24 karat gold (999 gold).
Gold prices steadied as investors digested comments from Federal Reserve Governor Christopher Waller on interest rate cuts and looked forward to more US economic data for policy clues.
Meanwhile, spot gold was up 0.1 per cent at $2,195.59 per ounce. US gold futures edged 0.2 per cent higher to $2,195.10.
“The Fed signaled they want to be cutting rates and there’s a geopolitical risk concern that continues to linger in the markets around these wars, both in Ukraine and in the Middle East, which is gold supportive,” said Ilya Spivak, head of global macro at Tastylive, told Reuters.
“Gold prices are rangebound for most of the time this month and a break above current resistance level around $2,225 per ounce could see prices heading towards the $2,300 mark.”
First uploaded on: 03-28-2024 at 13:17 IST
