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GOLD SLIPS BELOW $3700 ON PROFIT TAKING AHEAD OF FED

Published on Sep 17, 2025 15:19

Gold slipped below $3700 per ounce on Wednesday as investors turned cautious ahead of the highly anticipated Federal Reserve policy meeting today. MCX October gold futures declined nearly 1%, settling at Rs 109350 per 10 grams after touching a session low of Rs 109180, following a recent record high of $3739.9. The dollar index remained around 96.4, near 2�-month lows, amid growing expectations of multiple rate cuts this year, supported by softer US payroll data signaling a weakening labor market. Markets now price in three rate reductions, while all eyes are on the Fed�s new dot plot and Chair Jerome Powell�s press conference for further signals. Meanwhile, gold has soared more than 40% year-to-date, driven by strong central bank purchases, safe-haven inflows.

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