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Commodity Mid Session News

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(20 Mar 2025, 15:17)

MCX Gold rockets to Rs 89796 amid Fed cuts and global turmoil

COMEX Gold futures surged near US$3065 per ounce on Thursday, hitting another record high as US rate cut expectations and safe-haven demand boosted sentiment. The US Fed held rates steady but reaffirmed its projection for two cuts this year, keeping pressure on the dollar, which hovers around 103.4, a five-month low. Middle East tensions escalated as Israel resumed targeted operations in Gaza and the US continued strikes on Houthi targets, with Trump warning Iran of consequences. Global trade worries also persisted, with new tariffs set to take effect in April after the US imposed a 25% duty on steel and aluminum in February. Investors now await US jobless claims data for further labor market insights. MCX April bullion futures hit a fresh all-time high of Rs 89796 per 10 grams, rising by Rs 198.
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