Gold futures staged a measured rebound during the mid-European session, recovering from earlier dips toward the $4,900 per ounce mark after suffering a sharp $150-plus selloff in the previous session amid broad-based risk liquidation. The earlier plunge was driven by forced selling across asset classes, as investor's unwound positions in precious metals to raise liquidity. The dollar index hovered near 97, extending its sideways consolidation for a fourth consecutive session, as markets awaited the release of the January US CPI report'widely seen as pivotal for refining expectations around Federal Reserve policy. Recent robust US nonfarm payrolls underscored labor market resilience, prompting markets to reassess the timing of rate cuts, with expectations shifting toward a first reduction in July rather than June. In domestic trade, MCX April gold futures advanced nearly 1% to Rs 154,160 per 10 grams, reflecting cautious bargain-hunting amid heightened macro uncertainty.

Powered by Capital Market - Live News