Gold Holds Steady as Markets Await RBI MPC Decision & US Payroll Data!

Image Source: CNBC TV18

Gold prices remained rangebound on Thursday as investors exercised caution ahead of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting and the US payroll data release. The yellow metal saw minor fluctuations, reflecting market uncertainty over potential interest rate movements and global economic trends.

Key Highlights:

- Gold prices dipped slightly in early trade, hovering around ₹98,500 per 10 grams.
- RBI MPC meeting on Friday—investors anticipate policy cues on inflation and liquidity.
- US payroll data due soon—expected to influence Federal Reserve’s stance on interest rates.
- Global economic slowdown concerns—gold remains a preferred hedge against uncertainty.
- Dollar strength weighs on gold—higher yields increase opportunity cost of holding bullion.

Market analysts suggest that gold’s movement will largely depend on RBI’s policy stance and US labor market data, which could impact global interest rate expectations. A strong US jobs report might push the Federal Reserve toward a hawkish stance, potentially pressuring gold prices.

Meanwhile, traders are closely watching inflation trends and central bank signals, as gold continues to serve as a safe-haven asset amid economic volatility.

Sources: Live Mint, Moneycontrol, Economic Times