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Precious Metals Preview: COMEX gold surges to fresh record highs
20-Mar-2025 08:36

COMEX gold surged to hit yet another lifetime high on Thursday morning in Asia as dollar surrendered previous day gains and weakened back towards 103 mark. The greenback pulled back following Fed projections signalling the central bank is still likely to lower rates later this year. Yesterday, the Federal Reserve announced it's widely expected decision to once again leave interest rates unchanged and with regard to the outlook for rates, officials forecast rates in a range of 3.75 to 4.0 percent by the end of the year. Meanwhile, GDP expectations for 2025 have been downgraded to 1.7% from 2.1%, while unemployment is now forecasted at 4.4%, suggesting a softer labor market outlook. The yellow metal is currently quoting at $3054.20 an ounce, up 0.43% on the day. On the MCX, gold is holding at Rs 88580 per 10 grams.

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