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As on : 06-Jun-2025
Other Markets - Bullion Markets
06-Jun-2025     15:09

Gold hits 4-week high near as Fed hopes, soft US data lift appeal

Gold rose to around $3,390 per ounce on Friday, reaching a four-week high as soft US economic data and expectations of a less restrictive Federal Reserve boosted its safe-haven demand ahead of the May nonfarm payrolls. Weak jobless claims, slower productivity, and a narrowing trade deficit reinforced bets on rate cuts. The US dollar index steadied near 98.9 as markets awaited the key jobs report. On MCX, bullion futures traded below ₹98,000, while silver futures surged to a fresh lifetime high of ₹1,06,065 per kg. Bullion is eyeing a 2% weekly gain. Capping some of the upside was renewed optimism over US-China trade talks, with Trump and Xi agreeing to continue discussions.

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