gold price mcx us q2 gdp data rate cut us fed in september likely trigger

Gold prices recover marginally after steep slide post the Budget announcement of customs duty reduction. On MCX, Gold August futures traded with gains of 0.6 per cent at Rs 67,763 per 10 gm.

Real gross domestic product increased at a 2.8 per cent annualized pace in the second quarter, above the 2.1 per cent forecast, suggesting that the US economy is safe and bolstering stance of a rate cut next in September-raising the appeal for the precious yellow-metal.