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Commodity News Details
Gold jumps above $3420 as Fed cut bets grow
04-Aug-2025 15:19
Gold prices surged toward $3420 per ounce on Monday, lifted by a weaker US dollar and renewed safe-haven demand. The dollar index slipped below 99 as Friday's disappointing US jobs data fueled expectations of a Federal Reserve rate cut. On MCX, gold futures rose 0.7% to ₹100458 per 10 grams. Heightened trade tensions also supported gold after President Trump announced fresh tariffs of 10% to 41% on imports from dozens of countries, set to take effect August 7. While this week's economic calendar is relatively light, markets remain focused on global PMIs, China's trade balance, and upcoming central bank meetings from the RBI and BOE.

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