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Gold retreats as market eyes inflation and rate outlook
30-May-2025, 02:20
Gold prices fell toward $3300 per ounce on Friday, set to post a weekly loss of over 1 percent as investors turned cautious ahead of the US PCE inflation report, a key indicator that could shape the Federal Reserve's next policy move. Bullion briefly rallied on Thursday after a federal appeals court reinstated Trump-era tariffs, reversing a lower court ruling. However, the gains proved short-lived as markets shifted focus back to monetary policy. Fed official Mary Daly reinforced a wait-and-see stance, saying rate cuts remain possible but emphasized the need to keep policy steady for now. On the domestic front, MCX gold futures declined ₹475 to ₹95984 per 10 grams, tracking global cues.
Gold prices fell toward $3300 per ounce on Friday, set to post a weekly loss of over 1 percent as investors turned cautious ahead of the US PCE inflation report, a key indicator that could shape the Federal Reserve's next policy move. Bullion briefly rallied on Thursday after a federal appeals court reinstated Trump-era tariffs, reversing a lower court ruling. However, the gains proved short-lived as markets shifted focus back to monetary policy. Fed official Mary Daly reinforced a wait-and-see stance, saying rate cuts remain possible but emphasized the need to keep policy steady for now. On the domestic front, MCX gold futures declined ₹475 to ₹95984 per 10 grams, tracking global cues.
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