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GOLD RALLIES NEAR $3850 AMID TARIFFS AND POLICY UNCERTAINTY

Published on Sep 29, 2025 14:51

Gold touched a fresh record high of $3849 per ounce in Asia electronic trades, driven by expectations of further US rate cuts, a weaker dollar, and concerns over a potential government shutdown. Friday�s US PCE inflation data came in line with expectations, supporting bets on continued Federal Reserve easing later this year. The dollar index slipped below 98, extending losses for a second session as investors awaited key US labor market data. Meanwhile, President Donald Trump announced a new round of tariffs on imported drugs, trucks, and furniture, set to take effect on October 1, adding to uncertainty. Traders are also focused on September�s nonfarm payrolls, ADP private payrolls, JOLTS job openings, and the ISM manufacturing PMI. MCX December bullion futures climbed over 1% to Rs 116,100 per 10 grams.

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