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Gold soars to fresh highs; touches ₹106000 on MCX
01-Sep-2025, 02:37
Gold prices surged to fresh highs of $3557.1 per ounce in Asian trades on Monday, boosted by a weaker dollar and growing expectations of a US rate cut. Sentiment was further lifted after a federal appeals court ruled President Trump's global tariffs illegal, adding fresh uncertainty to trade policy. The dollar index slipped toward one-month lows as investors turned focus to a packed week of US labor data, which will guide the Fed's next move. On the domestic front, MCX October bullion futures jumped over 1% to ₹104900 per 10 grams, after hitting an intraday peak of ₹105937 earlier in the session.
Gold prices surged to fresh highs of $3557.1 per ounce in Asian trades on Monday, boosted by a weaker dollar and growing expectations of a US rate cut. Sentiment was further lifted after a federal appeals court ruled President Trump's global tariffs illegal, adding fresh uncertainty to trade policy. The dollar index slipped toward one-month lows as investors turned focus to a packed week of US labor data, which will guide the Fed's next move. On the domestic front, MCX October bullion futures jumped over 1% to ₹104900 per 10 grams, after hitting an intraday peak of ₹105937 earlier in the session.
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