COMEX gold pulled back after surging to fresh record highs in early Asia on Friday amid profit taking at higher levels. The precious metal was extending gains for most part of the week as dollar continued its losing streak amid rising expectations of a near term Federal rate cut. Minneapolis Fed President Kashkari also voiced support for rate cuts amid signs of a slowing economy, as jobless claims exceeded forecasts and continuing claims reached a three-year high. Moreover, US President Donald Trump's fresh tariff threats act as a tailwind for the yellow metal. Currently, the counter was seen quoting at $3488.90 an ounce, up more than 1% on the day.
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