Early gains and closes lowGold price!

Ravindra Rao, Head – Commodity Research at Kotak Securities said, COMEX Gold prices pared early gains and closed lower on 24 January, Wednesday, as robust economic data from US prompted investors to pare March Fed rate cut wagers, which now stands at 41% compared with almost 70% a week ago.

The greenback and treasury yields pared some early losses after data showed US factory activity unexpectedly jumped to 50.3 in January 2024, the highest since October 2022 Today, all eye are on the ECB policy meeting and a slew of economic data from the US, including US Q4 GDP estimates, weekly jobless claims and durable goods orders which might provide more cues on Fed’s policy path. Kotak Securities Limited (KSL), are one of India’s oldest stock broking company, offering full-fledged investment services across asset classes, including equity, debt, mutual funds, commodities and currencies – through a single-login platform. Our pan-India presence, technology-first approach and simplified investment solutions makes us a preferred choice for millions of investors across India.

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