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As on : 29-Sep-2025
Other Markets - Bullion Markets
29-Sep-2025     14:51

Gold rallies near $3850 amid tariffs and policy uncertainty

Gold touched a fresh record high of $3849 per ounce in Asia electronic trades, driven by expectations of further US rate cuts, a weaker dollar, and concerns over a potential government shutdown. Friday's US PCE inflation data came in line with expectations, supporting bets on continued Federal Reserve easing later this year. The dollar index slipped below 98, extending losses for a second session as investors awaited key US labor market data. Meanwhile, President Donald Trump announced a new round of tariffs on imported drugs, trucks, and furniture, set to take effect on October 1, adding to uncertainty. Traders are also focused on September's nonfarm payrolls, ADP private payrolls, JOLTS job openings, and the ISM manufacturing PMI. MCX December bullion futures climbed over 1% to Rs 116,100 per 10 grams.

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