Gold drags on profit-taking, Fed caution

Gold futures retreated in Asian electronic trade on Wednesday, weighed down by a firmer US dollar and profit-taking after touching a fresh high yesterday. The dollar index climbed past 97, reversing a two-day decline, after Fed Chair Jerome Powell signaled caution on the rate-cut path, citing uncertainty over balancing inflation with a softening labor market. His remarks curbed bullion?s rally, with investors now awaiting the PCE price index for clearer policy signals. On MCX, October gold futures fell by ₹312 to ₹113512 per 10 grams, after hitting a record high of ₹114179 in the previous session.

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