Gold pierces $3,600 mark as traders weigh Fed rate-cut bets

Gold prices hit a record high on Monday. This happened after weak job data in the United States. The data increased the expectation that the US Federal Reserve will cut interest rates. Spot gold increased. The rise was also driven by a weaker dollar and central bank buying. Investors are now waiting for the US inflation report.

Gold prices hold near record high as Fed rate cut bets, dollar weakness fuel rally. Analysts predict Rs 1.09 lakh target

Further, silver December futures on MCX were also trading lower at Rs 124079/kg, having fallen by Rs 618 or 0.5%

S&P Global expects crude prices to hit $55 per barrel by year end

S&P Global anticipates dated Brent crude prices to decline to approximately $55 per barrel by the end of the year. This forecast hinges on factors like a potential surplus, continued Russian oil supply, and shifts in stock building. A significant surplus and inventory changes could drive prices even lower, according to Dave Ernsberger.

S&P Global expects dated Brent crude to hit $55 per barrel by year-end

Dated Brent crude prices are likely to fall to around $55 per barrel by year-end, an S&P Global executive said at the Asia Pacific Petroleum Conference on Monday.