GOLD DRIFTS LOWER DESPITE SAFE-HAVEN DEMAND AMID TARIFF TURMOIL

Published on Mar 06, 2025 14:46

Gold futures eased near 2900 dollars per ounce in Asia today, but underlying support came from a weaker US dollar and persistent safe-haven demand as trade tensions linger. While President Trump offered temporary relief by pausing auto tariffs on Canada and Mexico and hinted at lifting energy duties, fresh retaliatory moves from China and new WTO actions kept uncertainty high. Back home, MCX gold traded lower by Rs 206 at Rs 85627 per 10 grams. Investors now await the US non-farm payrolls report, with slowing job growth fueling rate cut hopes, though a surprise rebound in services signals the economy still has some fight left.