04-Aug-2025      15:20

Gold crosses $3420 as rate cut hopes, tariffs lift demand

Gold prices surged toward $3420 per ounce on Monday, lifted by a weaker US dollar and renewed safe-haven demand. The dollar index slipped below 99 as Friday's disappointing US jobs data fueled expectations of a Federal Reserve rate cut. On MCX, gold futures rose 0.7% to ₹100458 per 10 grams. Heightened trade tensions also supported gold after President Trump announced fresh tariffs of 10% to 41% on imports from dozens of countries, set to take effect August 7. While this week's economic calendar is relatively light, markets remain focused on global PMIs, China's trade balance, and upcoming central bank meetings from the RBI and BOE.

Powered by Capital Market - Live News

News source: Capital Market - Live News