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Precious Metals Preview: COMEX gold steadies near record high

26-Sep-24 09:04 Hrs IST

COMEX gold steadies near record high although a slight uptick in dollar index back above 100 mark is capping upside in the yellow metal. Cautiousness prevails ahead of Federal Reserve Chair Jerome Powell's speech later today, which will be looked upon for cues about the pace of interest rate cuts going forward. Moreover, rising tensions in the Middle East and concerns over China's economic recovery, despite the latest stimulus plans, act as a tailwind for the safe-haven Gold price. Currently, the counter is quoting at $2684.80 an ounce, almost flat on the day.

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