Gold Rate Today Live: Morgan Stanley outlook
Morgan Stanley said it expects gold to remain stable through the second quarter before gaining momentum in the latter half of the year.
“If Fed hikes are avoided, we think gold could rebound, while a resolution to the conflict would also be supportive, likely bringing back focus on fiat currency debasement,” it said.
Gold Rate Today Live: What could dampen gold appeal
Tensions persisted, with Israel continuing strikes in Lebanon, which Tehran insists should be included in the ceasefire, while there was no indication that Iran had eased its blockade of the Strait of Hormuz.
A breakdown in talks and a renewed escalation in the conflict could drive up energy prices and inflation, potentially forcing the Federal Reserve to keep interest rates elevated for longer.
This could dampen the appeal of gold, which does not offer yield, despite its traditional role as an inflation hedge.
Gold Rate Today Live: What weaker dollar means for gold
“The weaker dollar has helped gold regain its footing, but there is caution in the market as participants try to interpret what the ceasefire means,” said Bob Haberkorn, senior market strategist at RJO Futures.
“The ceasefire headlines were very bullish for gold, but prices have pulled back from recent highs as cracks show,” he told Reuters.
Gold Rate Today Live: Spot gold rises 1.6%
Spot gold climbed 1.6 per cent to $4,789.67 per ounce by 1:30 p.m. ET (1730 GMT), after touching a near three-week high in the previous session. US gold futures closed 0.9 per cent higher at $4,818.00.
The US dollar index weakened, making gold more attractive for buyers holding other currencies.
Gold Rate Today Live: Gold rises over 1%
Gold prices rose more than 1 per cent on Thursday, supported by a weaker US dollar, as investors evaluated the stability of the fragile ceasefire between Washington and Tehran and awaited key US Consumer Price Index data.
Gold, Silver Rate Today Live Updates: During the month of March, global gold ETFs recorded outflows of $12 billion, which is equivalent to 84 tonnes, according to World Gold Council data. These outflows were driven largely by North America, which saw withdrawals of $14 billion (87 tonnes), along with Europe, which reported outflows of $0.1 billion (7 tonnes). In contrast, Asia actually saw inflows of $1.9 billion, or 10 tonnes, reflecting buying interest at lower levels. This indicates that while inflows in the region were substantial in value terms, they translated into relatively smaller volumes, says the World Gold Council. At the start of April, ETF flows into gold have turned positive across all regions.
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