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    BULLION MARKET

    Gold prices drop below Rs 1.4 lakh/10g, silver jumps by Rs 2,300/kg on MCX on firm dollar, Fed rate hike bets. Check rates in your city

    Gold and silver prices declined as a stronger dollar and rising expectations of a Federal Reserve rate hike weighed on bullion. Hotter-than-expected US inflation and hawkish Fed signals have increased pressure on precious metals, keeping investors cautious about the near-term outlook.

    D-St set for a cautious opening as GIFT Nifty signals muted start

    On Wednesday, Nifty closed up by 0.8%, influenced by profit booking in IT and realty stocks. Analysts indicate that Indian equities will continue to gain from improving earnings and foreign investments. The support levels for Nifty are set between 25100-25050, while hurdles are identified at 25250-25300. Additionally, foreign portfolio investors significantly increased their buying, while domestic investors sold shares.

    Indians buy 30% more gold after recent price correction

    Indians showed a significant increase in gold and silver purchases during Dhanteras-Diwali this year. Gold buying rose by 30% while silver demand increased by 10% compared to last year. Consumers bought 52 tonnes of gold valued at ₹72,000 crore and 300 tonnes of silver worth ₹5,400 crore. The rise in purchases was fueled by lower prices and upcoming wedding season. Jewellers expressed optimism about continued consumer interest in precious metals.

    Gold prices near Rs 1.45 lakh/10g, silver jumps Rs 2,900/kg on MCX despite rising Fed rate hike bets. Check rates in your city

    Gold and silver recovered modestly after a sharp previous-session decline, but hotter US inflation data fuelled expectations of a December Fed rate hike. Investors also tracked international bullion prices, geopolitical developments and retail gold rates across major Indian cities.

    D-St set for a cautious opening as GIFT Nifty signals muted start

    The Nifty index showcased mixed movements on Monday, opening on a high note before being swayed by profit booking. Experts predict a period of consolidation ahead for Indian stocks amid ongoing inflation apprehensions. Global market signals are expected to play a major role in shaping market trends, especially with promising earnings forecasts and lower crude oil costs.

    Gold holds near one-week low as hot US inflation boosts Fed hike bets

    Gold prices rose 0.2% to $4,039.07 per ounce in early Asian trade on Wednesday. This increase followed a nearly 3% decline in the previous session due to US inflation data. The data indicated stronger inflation, leading to heightened expectations of a Federal Reserve interest rate hike next month. Traders now believe there is a 100% chance of an interest rate increase in December.

    The Economic Times
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