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Gold retreats below 2900 as economic concerns and strong dollar take a toll
27-Feb-2025, 02:52
Gold extended its retreat, slipping below 2900 per ounce after touching a record high of 2974 on Monday, pressured by a strengthening dollar. India gold futures mirrored the trend, declining by 814 points toward 85000 per 10 grams. Trump's tariff confusion added volatility, while China's gold imports via Hong Kong fell to their lowest in three years, and Swiss exports to China nearly vanished. The dollar index firmed at 106.6, intensifying headwinds for bullion. Investors now await key US economic indicators, including Q4 GDP and the PCE price index, with markets pricing in two Fed rate cuts this year.
Gold extended its retreat, slipping below 2900 per ounce after touching a record high of 2974 on Monday, pressured by a strengthening dollar. India gold futures mirrored the trend, declining by 814 points toward 85000 per 10 grams. Trump's tariff confusion added volatility, while China's gold imports via Hong Kong fell to their lowest in three years, and Swiss exports to China nearly vanished. The dollar index firmed at 106.6, intensifying headwinds for bullion. Investors now await key US economic indicators, including Q4 GDP and the PCE price index, with markets pricing in two Fed rate cuts this year.
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