Sept 25 (Reuters) - Gold rebounded on Thursday, driven
by expectations of further U.S. interest rate cuts and
geopolitical risks, while a slightly weaker dollar also lent
support to bullion prices ahead of key economic data.
FUNDAMENTALS
* Spot gold was up 0.3% at $3,747.59 per ounce, as of
0045 GMT, recovering after a 0.7% fall in the previous session.
* U.S. gold futures for December delivery were up
0.3% at $3,778.50.
* The U.S. dollar index fell 0.1%, making
greenback-priced bullion less expensive for overseas buyers.
* San Francisco Federal Reserve Bank President Mary Daly
said on Wednesday she "fully supported" the decision by the Fed
to cut its policy rate last week and expects further reductions
ahead.
* On Tuesday, Fed Chair Jerome Powell emphasised the need to
balance inflation risks and a weakening jobs market in upcoming
policy decisions.
* U.S. Treasury Secretary Scott Bessent said on Wednesday he
would interview candidates next week to replace Jerome Powell as
Fed chair, aiming to complete initial interviews by early
October.
* Investors are awaiting the personal consumption
expenditures (PCE) price index report, the Fed's preferred
inflation measure, for further interest rate cues.
* The report, due on Friday, is expected to show a
month-on-month rise of 0.3% in August and 2.7% year-on-year
increase, according to a Reuters poll.
* Weekly U.S. jobless claims data, due later on Thursday,
may provide insights into labour market conditions.
* Markets broadly expect two more 25-basis-point Fed rate
cuts this year, in October and December.
* Safe-haven bullion, which tends to thrive in a low
interest rate environment, hit a record high of $3,790.82 on
Tuesday.
* U.S. Vice President JD Vance told reporters that President
Donald Trump was growing "incredibly impatient" with Russia
because they were not "putting enough on the table to end the
war."
* Spot silver was steady at $43.92 per ounce,
platinum rose 0.2% to $1,475.93 and palladium fell
0.1% to $1,210.82.
DATA/EVENTS (GMT)
0500 Japan Chain Store Sales YY Aug
1230 US Durable Goods Aug
1230 US GDP Final Q2
1230 US Initial Jobless Claim 20 Sep, w/e
1400 US Existing Home Sales Aug
(Reporting by Anmol Choubey in Bengaluru; Editing by Subhranshu
Sahu)
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