How is US debt ceiling crisis affecting gold price, Dollar-Rupee rate - Explained3 min read 28 May 2023, 06:42 AM IST
US Debt crisis is currently driving the movement in the US dollar and gold prices in global market. Which direction can these two move in the coming week, find out here:
Gold prices have remained weak this week, staying below the ₹61,000-level, as market sentiment has been influenced by concerns over the US debt crisis. The role of the dollar index has also played a significant part in the weakness of gold. The strong resistance at $1,980 in Comex is expected to keep gold prices subdued. The uncertainty surrounding the US debt crisis is likely to continue affecting gold prices until a resolution is reached. Gold in MCX can be seen falling towards ₹58,500 in case of no further positive steps on the US debt crisis.
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