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Gold futures finish higher for second straight session on Tuesday

11 Dec 2024 Evaluate
Gold futures finished higher for second straight session on Tuesday, kindled by the bets over dovish monetary policies from major central banks. The Federal Reserve is expected to trim interest rate for third straight session next week, while investors eyed on upcoming US inflation data. Additionally, major central banks, including the ECB, SNB, and BoC, are expected to lower rates this week. Safe haven appeal of the bullion boosted with the intensified geopolitical conflicts in the Middle East, driven by reports of the Syrian regime's collapse and ongoing Israeli airstrikes. Besides, PBoC resumed gold purchases following a six-month pause also added lustre to the precious metal.

Gold futures for February delivery rose by $32.60 or 1.20% to $ 2,718.40per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $ 1.75 or 0.06% to $ 2,692.50 an ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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