Gold Rate Today: Yellow metal climbs above Rs 47,500 on low-level buying

gold rate today yellow metal climbs above rs 47500 on low level buying

Sumary of Gold Rate Today: Yellow metal climbs above Rs 47,500 on low-level buying:

  • Investors are betting that the newly renominated Fed Chairman Jerome Powell will need to step up the pace at which the central bank is normalizing monetary policy to better grapple with surging consumer prices.
  • “Gold prices fell to a near three-week low on Tuesday as the renomination of US Federal Reserve Chair Jerome Powell fuelled bets of faster interest rate hikes, bolstering the dollar and Treasury yields.
  • Investors are betting Powell will step up the pace at which the central bank is normalizing monetary policy to better grapple with surging consumer prices,” said Vidit Garg, Director, MyGoldKart.

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