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Gold rises above $3160 as US tariffs stoke uncertainty
02-Apr-2025, 02:21
Gold surged past $3163 per ounce as investors turned to safe-haven assets amid looming US tariffs that could escalate global trade tensions. The White House remained vague on details, but Trump hinted at broad levies, adding to market uncertainty. A weaker US dollar, trading below 104, further supported gold. Soft US jobs data and a poor manufacturing report also fueled bets on a slower economy. MCX June gold futures gained ₹316 to ₹91,191 per 10 grams. Traders now focus on the ADP employment report and Friday's nonfarm payrolls for insights into the Fed's rate path.
Gold surged past $3163 per ounce as investors turned to safe-haven assets amid looming US tariffs that could escalate global trade tensions. The White House remained vague on details, but Trump hinted at broad levies, adding to market uncertainty. A weaker US dollar, trading below 104, further supported gold. Soft US jobs data and a poor manufacturing report also fueled bets on a slower economy. MCX June gold futures gained ₹316 to ₹91,191 per 10 grams. Traders now focus on the ADP employment report and Friday's nonfarm payrolls for insights into the Fed's rate path.
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