Sustaining near its all-time high levels, June gold futures opened flat on Wednesday at Rs 73,930 per 10 gram, down by Rs 91 or 0.12%, while silver July contracts were down by Rs 419 or 0.44% at Rs 94,306/ kg.
Gold stayed near its record high for the second day as traders awaited signals on US Federal Reserve policy. The odds of two Fed rate cuts this year have decreased, despite some policymakers\’ optimism.
Gold prices were steady and hovered above the key $2,400 level touched earlier this week, supported by safe-haven buying and the prospect of interest rate cuts from the US Federal Reserve later this year.
In the US, spot gold held its ground at $2,422.45 per ounce, as of 0106 GMT, while bullion hit a record high of $2,449.89 on Monday. US gold futures were steady at $2,426.00.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
