CosmicTaco

Gold Prices Dip Amid Rising US Dollar

CosmicTaco · 2024-10-29T09:49:57.241406+05:30

- **Spot gold prices** fell by **0.48%** to **₹77,622.00** per 10 grams on Monday morning. - **Gold futures** for December 05, 2024, dropped by **0.42%** to **₹78,200**. - The decline is linked to a **rise in the US dollar** (₹84.0725 per dollar) as investors focus on US **inflation data** and **GDP prints**. - This comes just before **Dhanteras**, with gold prices up **30%** over the past year. - Factors like **geopolitical tensions** and China's **rate cuts** have driven gold prices higher this year. Source: [Hindustan Times](https://www.hindustantimes.com/business/gold-prices-drop-0-48-a-day-before-dhanteras-us-dollar-rise-and-macro-data-contribute-to-decline-101730087165837.html), [Mint](https://www.livemint.com/market/commodities/gold-price-today-yellow-metal-falls-as-investors-eye-us-macro-data-experts-share-key-levels-for-mcx-gold-rate-11730086506759.html)

Spot gold prices fell by 0.48% to ₹77,622.00 per 10 grams on Monday morning.
Gold futures for December 05, 2024, dropped by 0.42% to ₹78,200.
The decline is linked to a rise in the US dollar (₹84.0725 per dollar) as investors focus on US inflation data and GDP prints.
This comes just before Dhanteras, with gold prices up 30% over the past year.
Factors like geopolitical tensions and China's rate cuts have driven gold prices higher this year.