Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices edged higher on MCX on Friday, as globally yellow metal rates hovered near the key $1,900 per ounce level.
But all will be revealed at the June 16th FOMC meeting, until then dollar index is expected to remain subdued, which will provide support to gold.
US Fed had reiterated that inflationary pressure will be transitory and so we believe they will not be in a hurry to tighten interest rate which is positive for gold.
Gold trades higher supported by choppiness in the US dollar and sharp decline in US bond yield in reaction to US inflation data.
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