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MCX GOLD SLIPS AS RUPEE GAINS, GLOBAL GOLD STAYS STRONG

Published on Mar 24, 2025 14:30

Gold held steady around $3033 per ounce on Monday, riding a wave of safe-haven demand as geopolitical unrest and Fed rate cut expectations fueled investor interest. With President Trump�s reciprocal tariffs looming on April 2 and Israel resuming strikes in Gaza, uncertainty gripped the markets. Meanwhile, US delegates are set to meet Russian officials today after Sunday�s talks with Ukraine to negotiate a Black Sea ceasefire. The Fed�s signal of two possible rate cuts this year kept gold�s bullish outlook intact. However, MCX bullion futures slipped as the rupee gained 34 paise to 85.57 against the US dollar, dragging the April futures down by ₹81 to ₹87,697 per 10 grams.

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