Gold price today: Gold rates on the MCX slipped in morning deals on Friday, December 5, ahead of the Reserve Bank of India’s (RBI) monetary policy decision. However, the dollar’s weakness and healthy spot demand limited the downside in gold prices. MCX gold February contracts were 0.14% down at ₹129892 per 10 grams around 9:10 am. MCX silver March contracts were, however, up 0.74% at ₹1,79,461 per kg at that time.
Investors’ focus is on the RBI MPC policy decision. Experts are divided about the RBI’s policy decision due to mixed macroeconomic signals. While headline GDP numbers are strong, weakness in nominal GDP and manufacturing supports the view of a 25-basis-point rate cut.
On the global front, investors await US inflation data, due later today, which will shape expectations about the US Federal Reserve’s policy decision next week.
(This is a developing story. Please check back for fresh updates.)
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
