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As on : 03-Mar-2025
Other Markets - Bullion Markets
03-Mar-2025     15:11

Gold strengthens on weaker dollar and rate cut hopes

Gold glittered past $2880 per ounce on Monday, as jitters over President Trump's fresh tariff salvo sparked a rush to safety. The bounce back also came after the metal dropped by more than 3% last week, first drop after 7 weeks of gain. With new duties on Mexico, Canada, and China set to rattle global trade, investors piled into bullion to shield against rising inflation and brewing economic uncertainty. Adding more shine, the dollar lost its recent grip, sliding to 107.2, making gold all the more attractive worldwide. Hopes of Fed rate cuts stirred the pot further, boosting non-yielding assets like gold. Back home, MCX April futures sparkled too, soaring Rs 639 to Rs 84858 per 10 grams, keeping pace with the global gold fever.

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