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Gold prices tumbled over $20 per ounce in Wednesday's Asian trade, pulling back from a record peak of $2968.5 reached earlier. Market sentiment turned cautious as investors braced for the January US CPI report, expected to show a slight uptick in monthly core inflation to 0.3%. The dollar index steadied near 108, curbing bullion's appeal, while the Federal Reserve's measured stance further dampened interest in non-yielding gold despite its reputation as an inflation hedge. Meanwhile, geopolitical uncertainties and trade tensions continue to lend support. President Trump's announcement of aggressive new tariffs has stoked fears of an escalating trade war, boosting safe-haven demand. MCX bullion for April delivery is trading lower by nearly Rs 400 at Rs 85165 per 10 grams. Powered by Capital Market - Live News
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