Gold eases under $4050 mark, Trump says Israel and Hamas agreed on first phase of peace plan

COMEX Gold futures eased below $4050 per ounce on Thursday, pausing their record rally as traders booked profits following reports of easing geopolitical tensions. US President Donald Trump announced that Israel and Hamas had agreed on the first phase of his peace plan, prompting a brief pullback in safe-haven demand. However, the prolonged US government shutdown and expectations of another Fed rate cut continue to lend underlying support. The Fed minutes from September showed broad support for rate cuts amid labour market concerns, though officials remained divided on further easing. On MCX, gold slipped 0.3% to Rs 122843 per 10 grams after hitting a record Rs 123200 in the previous session.

Powered by Commodity Insights