Gold rates were flat in early deals on the MCX on Tuesday, December 9, as investors remained cautious ahead of the interest rate decision by the US Federal Reserve. MCX gold February contracts were flat at ₹1,29,978 per 10 grams around 9:25 am. MCX silver March futures were, however, up 0.50% at ₹1,82,705 per kg at that time.
The US Federal Reserve will announce its policy decision on Wednesday, December 10, at a time when the job market appears to be cooling, and inflation remains above the Fed’s 2% target.
Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s favourite inflation gauge, increased 0.3% in September after rising 0.3% in August. Year-on-year, the PCE Price Index increased 2.8% after rising 2.7% in August.
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