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Commodities

Gold Prices Rise in India Amid Softer US Inflation Data

Guavy AI Editorial Team
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Gold
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The gold market saw a boost in India as prices settled 0.14% higher at ₹1,49,036 due to softer-than-expected US inflation data, which reinforced expectations that the Federal Reserve may leave interest rates unchanged at its October meeting.

The US Personal Consumption Expenditures (PCE) price index rose 0.3% month-on-month, while core PCE increased 0.2%, indicating relatively moderate inflation pressure.

In India, physical gold demand improved modestly as lower prices attracted buyers ahead of the festive season, narrowing dealer discounts to around $43 per ounce from $60 last week.

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