Markets remained range-bound for yet another day, closing marginally higher in line with the ongoing trend. After an initial gap-up, the Nifty fluctuated within a narrow band, ultimately settling at 23,399.95.
Gold hit a two-week high on signs of a cooling U.S. labor market, strengthening a case for a September interest rate cut by the Federal Reserve, while investors positioned for U.S. non-farm payrolls data. Intraday support lies near 72500 with resistance close to the 73300 level.
Gold remains stuck in a range with investors positioning for a flurry of U.S. economic data to gauge the Federal Reserve's rate path, while global central banks' buying offers underlying support.
Markets plunged sharply today, losing nearly 6% and erasing the gains of the past four months
2 min
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