Gold rate today: The release of the US CPI data significantly impacted gold prices, leading to a continued rally on Friday last week. The MCX gold rate closed higher at ₹76,307 per 10 gm, while the spot gold price surged over one per cent to $2,657.26 per ounce. The COMEX gold price also saw a 1.32% increase, closing at $2,674.20 per troy ounce. This surge was attributed to the easing of US inflation concerns, as indicated by the US CPI data, and the subsequent speculation of a 25-basis-point interest rate cut in the next month’s US Fed meeting.US inflation data in focusHighlighting the role of US inflation in shaping gold prices, Anuj Gupta, Head of Commodity & Currency at HDFC Securities, explained, “The US CPI data released on Thursday was in line with the market expectations. While US consumer prices were slightly higher than the market estimates in September, the annual US inflation growth is the smallest in the last three and a half years. This has significantly eased the…
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