Gold futures surged more than $25 an ounce, calling off recent losses as renewed optimism surrounding US-China trade talks reduced safe-haven demand. While bullish momentum has cooled, gold remains on track for a modest weekly gain. Domestic bullion futures however traded with marginal loss of over Rs 100, falling below Rs 96000 mark earlier in the session. Hopes for progress in resolving trade disputes were further lifted by the announcement of a US-UK trade deal, easing global market anxieties. Meanwhile, the Federal Reserve left its key interest rate unchanged but flagged rising risks from both inflation and unemployment, reinforcing a cautious outlook. Chair Jerome Powell made it clear that the Fed is not considering a preemptive rate cut, despite concerns over tariff-driven economic strain.
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