Gold hits fresh highs; markets eye US jobs data for Fed policy cues

Gold hovered near record highs of $3580 per ounce on Tuesday, with sentiment lifted by expectations of a Federal Reserve rate cut at this month?s meeting. Traders are now awaiting Friday?s nonfarm payrolls report, which could determine the size of the move after last week?s inflation data reinforced hopes for easing. Safe-haven demand remained firm as questions over Fed independence resurfaced following President Trump?s dismissal of Governor Cook, a case still tied up in legal disputes. At the same time, uncertainty over US tariffs lingered after a federal appeals court ruled most of Trump?s measures illegal but allowed them to stay in place until October 14 pending further appeals. These political and legal uncertainties added to the bullish outlook for bullion. On MCX, October gold futures ticked higher to ₹105358 per 10 grams, keeping pace with international momentum.

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