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Gold soars past $3360 on soft dollar and haven demand
18-Jul-2025, 02:56
Gold futures climbed past $3360 per ounce in Asian electronic trade on Friday, driven by a softer US dollar, which slipped to 98 but remained on track for its second weekly gain. The metal's safe-haven appeal stayed firm amid persistent trade tensions and geopolitical risks, including President Trump's plans to revise tariffs for over 150 trade partners, the ongoing Russia-Ukraine conflict, and Middle East unrest. US economic data released Thursday showed stronger-than-expected retail sales and a drop in weekly jobless claims to a three-month low, underscoring resilience in the economy despite tariffs. On the MCX, August bullion futures traded 0.48% higher at ₹97,945 per 10 grams.
Gold futures climbed past $3360 per ounce in Asian electronic trade on Friday, driven by a softer US dollar, which slipped to 98 but remained on track for its second weekly gain. The metal's safe-haven appeal stayed firm amid persistent trade tensions and geopolitical risks, including President Trump's plans to revise tariffs for over 150 trade partners, the ongoing Russia-Ukraine conflict, and Middle East unrest. US economic data released Thursday showed stronger-than-expected retail sales and a drop in weekly jobless claims to a three-month low, underscoring resilience in the economy despite tariffs. On the MCX, August bullion futures traded 0.48% higher at ₹97,945 per 10 grams.
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