MCX gold stays close to record ₹102250 peak

Gold futures bounced back above $3400 per ounce in Asian electronic trade on Wednesday after US CPI data reinforced expectations of a 25 bps Fed rate cut in September. July inflation came in at 2.7%, with core inflation rising to 3.1%, easing concerns over tariff-driven price pressures and boosting bullion?s safe-haven appeal. On MCX, October gold rose 0.24% to ₹100400 per 10 grams, just shy of its record ₹102250 hit on 8 August. Traders remain watchful over the tariff status of gold imports after mixed signals from Washington, while upcoming US PPI, jobless claims, and retail sales data could guide the next move. Broader sentiment is also shaped by easing US?China trade tensions and upcoming US?Russia talks aimed at resolving the Ukraine conflict.

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