Gold stabilises after selloff ahead of key us data

Gold futures rebounded toward $4,950 per ounce on Wednesday after suffering a sharp selloff in the previous session, as investors repositioned ahead of the latest policy meeting minutes from the Federal Reserve. Market focus is firmly on Friday?s PCE Price Index and upcoming GDP data, both expected to provide fresh insight into the interest rate outlook. The US dollar strengthened above 97 after recent volatility, tempering gains in the metal. Geopolitical developments also remained in focus, with reports of progress in US?Iran discussions and continued negotiations between Russia and Ukraine reducing immediate safe-haven demand. In domestic trade, MCX gold futures for April delivery climbed nearly 1% to ₹152,783 per 10 grams.

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