MCX gold nears ₹124000 amid trade tensions and Fed bets

Gold futures surged toward the $4100 per ounce mark in Monday?s Asia electronic trades, supported by renewed safe-haven demand as investors reacted to rising US-China trade tensions and ongoing global uncertainty. MCX December gold futures climbed to a new peak of ₹123977 per 10 grams, tracking the international rally. Sentiment improved slightly after President Trump softened his stance on tariffs, saying the US wants to help China, just days after threatening 100% duties on Chinese exports from November 1. The prolonged US government shutdown and the White House?s move toward federal layoffs further added to market anxiety. Meanwhile, traders are increasingly betting on 25bps rate cut from the Federal Reserve this month, boosting gold?s appeal as a non-yielding asset.

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