नवंबर के बाद सोना में गिरावट: Powell also downplayed the inflationary risk. He acknowledged that inflation has stayed at a high level for longer than the Fed expected, but, at the same time, he reiterated the Fed’s view of the transitory nature of elevated inflation:
Silver
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Gold Price Could Remain Volatile in Range Between $1,742—$1,806
Gold price snapped its three-day recovery momentum and returned to the red on Wednesday, hurt by the US Federal Reserve’s (Fed) hawkish surprise and the renewed optimism over China Evergrande repayment story. In the early part of the day, gold remained in a consolidative mode in familiar ranges around $1778, in a typical pre-Fed caution trading.
Gold Rate Today Dropped After US Federal Reserve Signalled
Gold Rate Today Dropped: Gold and silver rates fell sharply in Indian markets today, tracking a drop in international rates. On MCX, gold futures were down 0.6% to ₹46,377 per 10 gram while silver rates slumped 1%.
Gold Weekly Report: Next Week Eyes on US CPI Data | Gold Silver Reports
Consumer Price Index (CPI): The first high-impact data release of the week will be Tuesday’s CPI report from the US. Cleveland Federal Reserve Bank President Loretta Mester said on Friday that she sees upside risks to the inflation forecast and voiced her support for tapering to start before the end of the year. On a similar note, Atlanta Federal Reserve President Raphael Bostic noted that it would be appropriate to taper sometime this year.
Gold bears look to $1,758, ECB PEPP verdict in focus
Gold justifies the technical breakdown amid sour sentiment during early Thursday. That said, the yellow metal holds lower ground near $1,790, the lowest in two weeks by the press time. Fed tapering woes, virus-led economic fears and stimulus chatters keep bears hopeful.