Gold Prices Rise on Lower Oil Costs; Investors Await US Midterm Results

Economic Times Markets · stocks

Gold prices saw a slight increase in early Asian trade due to easing inflation concerns stemming from softer oil prices. Investors are closely monitoring the US midterm election results and upcoming labour market data for potential policy shifts. Lower oil prices reduce inflation worries and may influence the Federal Reserve's interest rate decisions, making non-yielding gold more attractive. Meanwhile, India's gold demand is projected to reach a six-year low by 2026, impacted by high prices affecting jewellery and investment.