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MCX gold defies global dip, stays above Rs 86k
25-Feb-2025, 03:05
Gold prices eased near 2950 dollars per ounce as investors booked profits after a record-breaking rally. However, strong ETF demand provided support, with SPDR Gold Trust holdings reaching their highest level since August 2023. Inflation fears remained in focus as President Trump reaffirmed tariffs on Canadian and Mexican imports, keeping safe-haven interest intact. Traders now await Friday's PCE report, which could impact the Fed's policy outlook. Despite the global pullback, MCX April gold futures climbed 265 rupees to trade near 86500 per 10 grams.
Gold prices eased near 2950 dollars per ounce as investors booked profits after a record-breaking rally. However, strong ETF demand provided support, with SPDR Gold Trust holdings reaching their highest level since August 2023. Inflation fears remained in focus as President Trump reaffirmed tariffs on Canadian and Mexican imports, keeping safe-haven interest intact. Traders now await Friday's PCE report, which could impact the Fed's policy outlook. Despite the global pullback, MCX April gold futures climbed 265 rupees to trade near 86500 per 10 grams.
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