28-Aug-2025      14:54

Gold steady as traders eye US PCE data

Gold prices traded steady near $3450 per ounce in Asian electronic trades on Thursday, with sentiment supported by a weaker US dollar. The dollar index slipped below 98 as traders increased bets on Federal Reserve rate cuts, following dovish remarks from New York Fed President John Williams that echoed Chair Powell's tone at Jackson Hole. This added to expectations of policy easing ahead of Friday's PCE price index, the Fed's preferred inflation gauge. The softer dollar helped sustain bullion's momentum, while investors positioned cautiously before key economic cues. On the domestic front, MCX October gold futures advanced ₹148 to ₹101690 per 10 grams, reflecting firm overseas support.

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