Branch² Intelligence
Gold price at Rs 1.47 lakh/10g; silver gains Rs 5,000/kg as US jobs data cools inflation worries. What are experts saying?
Key takeaway
Weaker US jobs data cools Fed rate hike expectations, boosting gold and silver prices on MCX.
- Step 1US jobs data misses expectations, reducing Fed rate hike probability and weakening the US dollar.
- Step 2Dollar weakness and lower real yields drive global gold and silver prices higher, transmitted via commodity pricing channel.
- Step 3MCX gold and silver futures rally, increasing trading volumes and open interest, boosting MCX's revenue from transaction fees.
Source: Economic Times (Markets)
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