Gold Volatile Ahead of US Data; Weaker Dollar & Fed Cut Hopes Boost Price

• Global gold prices saw a slight increase, supported by a weaker US dollar.
• Investors are anticipating crucial US employment data that could influence the Federal Reserve's monetary policy.
• On MCX, gold prices fell by 0.32% to ₹1,33,699 per 10 grams, while silver dropped 1.08% to ₹1,95,769 per kg.
• The US dollar remained near a two-month low, providing support for gold, which is priced in the greenback.
• Analysts forecast gold could potentially reach $5,000 per ounce next year, driven by expectations of future rate cuts.

Why It Matters: Upcoming US data and Fed policy will dictate future gold price movements.