20-Aug-2025      13:56

Comex gold steady: slips below ₹99000 on MCX amid cautious trade

Gold hovered around $3370 per ounce on Wednesday as investors awaited Fed Chair Powell's Jackson Hole speech and the release of FOMC minutes for fresh clues on policy direction. The dollar index firmed above 98.1, marking a third straight session of gains, weighing on bullion sentiment. On the geopolitical front, President Trump ruled out sending ground troops to Ukraine but hinted at air support, while Russia's absence from peace talks added to uncertainty. Market bets still price in two 25bps Fed cuts this year, with the first likely in September. Domestically, MCX bullion futures for October delivery dipped below ₹99000 per 10 grams, down ₹36.

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