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MCX gold slips as rupee gains, global gold stays strong
24-Mar-2025, 02:30
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.
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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