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Gold Falls Below $2410 as Dollar Strengthens Post-Trump Attack As on : 15-Jul-24  14:11

Gold futures slipped below $2,410 an ounce in Asian electronic trades today, driven lower by a stronger dollar as markets reacted to the assassination attempt on former US President Donald Trump. Despite fears of increased political instability, analysts suggest the attack might boost Trump's election prospects. The dollar edged up to 104 today, rebounding from its lowest level since June at 103.73 on Friday. Last week, gold marked its third consecutive weekly gain, supported by cooling US inflation, which reinforced expectations of Federal Reserve interest rate cuts. Investors are now keenly awaiting Fed Chair Jerome Powell's remarks and upcoming US economic data for further direction. On the domestic front, MCX August delivery bullion futures were down Rs 127, trading at Rs 73,142 per 10 grams.

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