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Commodity News Details
Gold recovers slightly but stays weak; all eyes on US retail data
15-May-2025 15:06
COMEX Gold futures bounced back from the day's low of $3123.30 per ounce during Asian electronic trades on Thursday but remained near a five-week low as easing global trade tensions dented safe-haven appeal. On MCX, domestic bullion futures recovered from Rs 90890 but were still down around Rs 300 per 10 grams. Market sentiment shifted after the US and China agreed to cut tariffs and pause further actions for 90 days. Meanwhile, geopolitical tensions eased in the Middle East and South Asia, further weighing on gold. However, softer-than-expected US inflation data raised the chances of Fed rate cuts, lending some support to non-yielding gold. The dollar index weakened slightly to 100.57, while investors now await US retail sales and PPI data for direction.

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