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Commodity News Details
Gold hovers near $4016 as Fed rate cut hopes strengthen
07-Nov-2025 14:50
Gold futures traded higher by more than half a percent at around $4016 per ounce on Friday, supported by weak US labor data that reinforced expectations of a near-term Federal Reserve rate cut. On the MCX, December delivery futures climbed 0.5% to ₹121239 per 10 grams. However, gains remained limited as the dollar index rebounded to 99.7 after Thursday's sharp fall, curbing bullion's advance. The yellow metal is on track for a modest weekly gain after declining for two straight sessions. With the US government shutdown delaying official jobs data, traders turned to private reports ' Challenger data showed 153,000 job cuts in October, the highest for that month in 22 years, driven by AI-related cost optimization.

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