Mumbai, Feb. 18 -- Upside continues in safe haven gold amid persistent global trade tensions and hawkish remarks from Federal Reserve as inflation remains above the 2% goal. Also, the World Gold Council revealed that central banks purchased over 1,000 tonnes of Gold for the third consecutive year in 2024. Following Trump's electoral victory, purchases by central banks surged by more than 54% YoY to 333 tonnes, according to WGC data. Meanwhile US treasury yields eased to 4.5% mark and dollar index is loitering below 107 mark, supporting the yellow metal which is currently quoting at $2923.60 an ounce, up 0.78% on the day.
Published by HT Digital Content Services with permission from Capital Market....