Gold's Rally Hits a Wall: Softer US Inflation Fails to Spark Bullion Surge
What Happened
Gold and silver traded largely flat on the MCX on Thursday even after softer-than-expected US inflation data strengthened expectations that the US Federal Reserve could pause interest-rate hikes. MCX gold futures were marginally higher at around ₹1.55 lakh per 10 grams, while silver futures edged lower near ₹2.37 lakh per kg.
Key Takeaways
Gold remains supported by expectations that the Fed may keep rates unchanged in September, but higher bond yields and a resilient dollar are preventing a major rally.