Gold surges above $4240 as Fed outlook lifts sentiment

Gold prices climbed above $4240 per ounce on Thursday, gaining more than $25 as investors focused on the Federal Reserve?s rate outlook after the US government reopened. President Donald Trump signed a funding bill late Wednesday, ending the longest shutdown in US history. However, the White House warned that key economic reports, including jobs and inflation data, could be delayed, prompting traders to rely on private indicators. The dollar index slipped near 99 as weak labor data fueled expectations of a near-term Fed rate cut. Silver also gained nearly 1.5% to above $54 per ounce, extending its weekly advance to over 10%. On the MCX, December gold futures rose nearly 1% to ₹127604 per 10 grams, while silver futures surged almost 2% to ₹165066 per kg amid rising demand during the wedding season.

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