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GOLD TRIPS TO $3330 AS DOLLAR FIRMS ON FED STABILITY

Published on Jul 17, 2025 13:58

Gold prices tripped by nearly 1% at $3,330 per ounce on Thursday, reversing previous gains as the US dollar strengthened following reduced uncertainty over Federal Reserve leadership. President Trump denied reports of considering Fed Chair Jerome Powell�s removal, though he reiterated his dissatisfaction with current rate policy. The dollar index climbed to 98.5, regaining momentum after a volatile session linked to concerns over Fed independence. Meanwhile, a flat US PPI reading for June suggested muted wholesale price pressures, easing fears of tariff-driven inflation and reducing demand for safe-haven assets. On the domestic front, MCX August gold futures dropped over 0.5% to ₹97,206 per 10 grams, tracking the global pullback.

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