Gold logs 0.86% weekly gain as bets grow on Fed holding rates steady
Gold rose 0.86% for the week after a run of weaker-than-expected US economic data strengthened expectations that the Federal Reserve will keep interest rates unchanged. On Friday, MCX gold futures (October) climbed 0.73% to Rs 154,590, while MCX silver futures (September) edged up 0.15% to Rs 2,36,272 per kg. Technically, commodity market experts see immediate resistance for COMEX gold at $4,470–$4,500 and support at $4,400–$4,370. July core CPI eased to 2.5%, keeping inflation broadly contained and reinforcing the view of unchanged rates.