Divya Delhi: Gold gained sharply ending a losing skid. Today, MCX gold futures for October began at Rs 99,159 per 10 kilos. Gold rose over 1% to $3,349 per ounce on Wednesday as the U.S. dollar fell from one-week highs on concerns about the Federal Reserve's independence. President Donald Trump demanded Fed Governor Lisa Cook's resignation for mortgage fraud. The July Fed minutes showed that majority policymakers think it's too soon to decrease interest rates due to inflation and the labor situation. CME FedWatch currently predicts an 82% chance of a 25-basis-point rate decrease in September, down from 94% a week earlier. Gold is steady near $3,340 as investors await U.S. economic data like jobless claims, PMIs, and existing home sales. Markets are watching Fed Chair Jerome Powell's Jackson Hole Symposium speech for policy shifts, especially after last year's remarks signaled a rate-cutting cycle "Kaynat Chainwala, AVP Commodity Research, Kotak Securities.