GOLD CROSSES $3350, EYES US JOBS DATA FOR CUES
Published on Jul 01, 2025 14:49
Gold surged over to cross $3350 per ounce on Tuesday, driven by a tumbling US dollar and renewed bargain buying after last week`s 3% drop. The dollar index slipped to 96.1, its lowest since February 2022, amid rising concerns over the US fiscal outlook and stalled trade negotiations. Investors are closely watching the Senate�s debate on President Trump�s $3.3 trillion tax-and-spend plan and the nearing expiry of a 90-day tariff reprieve. On MCX, August gold futures rose over 1% to ₹97116 per 10 grams. The safe-haven demand also saw a lift as markets remained cautious ahead of a string of US labor reports. Thursday�s non-farm payrolls data is expected to offer further cues on the Fed�s policy stance and could determine the next leg of movement in gold prices.
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