15-Jul-2025      14:55

Gold glitters near $3370 as markets brace for CPI, chaos

Gold prices climbed to around $3370 per ounce on Tuesday, fueled by safe-haven demand as investors sought shelter from intensifying trade tensions and a softening US dollar. The dollar index dipped below 98 ahead of the key US inflation report, heightening expectations for a dovish Fed stance. President Trump's escalating tariff threats'including a potential 100% levy on Russia and 30% duties on EU and Mexico'kept markets on edge. While he hinted at further negotiations, uncertainty prevailed. Trump also reignited criticism of the Fed, pushing for rates at 1% or lower. As geopolitical drama unfolded, gold shimmered as a symbol of stability in a turbulent trade world. MCX bullion futures for august 5 delivery traded up by 0.16 at Rs 97935 per 10 grams.

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