Quote on Market Movement 02 July 2025 by Deveya Gaglani, Senior Research Analyst-Commodities, Axis Securities Ltd

Below the Quote on Market Movement 02 July 2025 by Deveya Gaglani, Senior Research Analyst-Commodities, Axis Securities
MCX Gold prices surged by over 1000 points in the last session, supported by a multi-year low in the dollar index. The ongoing uncertainty surrounding trade negotiations with major global economies also enhanced gold's appeal as a safe-haven asset. The precious metal is currently experiencing its second consecutive day of gains, driven by increasing expectations that the Federal Reserve may resume loosening its monetary policy later this year. Lower interest rates generally benefit non-interest-bearing assets like gold. The market is currently pricing in at least two interest rate cuts in 2025. Looking ahead, the upcoming Non-Farm Payrolls data is anticipated to significantly influence gold's price trajectory this month.
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