Gold price hits fresh record; jobs data among key factors behind rally

Gold prices soared to a record high of $3,636.69 an ounce on Monday, driven by soft U.S. labor data fueling expectations of a Federal Reserve interest rate cut. The anticipation of lower rates, coupled with a weaker dollar and strong central bank buying, particularly from China, has propelled gold's impressive gains this year. Investors are now closely watching upcoming U.S.

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.