GOLD DIPS UNDER ₹97000 ON MCX AMID STRIKES IN POK, FED IN FOCUS
Published on May 07, 2025 14:56
Gold prices slipped below ₹97000 on Wednesday, snapping a two-day rally, as MCX gold futures fell by ₹400 to ₹97091 per 10 grams. Internationally, prices dipped below $3400 per ounce. The pullback comes amid heightened geopolitical tensions after India carried out �Operation Sindoor�, striking nine terror sites in Pakistan and Pakistan-occupied Kashmir. The operation, seen as a strong response to cross-border threats, added volatility to the markets. All eyes are now on the US Federal Reserve�s policy decision due later today. While rates are expected to remain unchanged, markets are watching Chair Powell�s comments for any hints on future policy moves. The Fed�s tone could influence short-term gold direction amid global uncertainty.
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