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GOLD CROSSES $3420 AS RATE CUT HOPES, TARIFFS LIFT DEMAND

Published on Aug 04, 2025 15:20

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.

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