11 hours ago
Gold prices held firm on Friday (April 25), poised for a third consecutive weekly gain, as investors maintained a bullish stance amid global economic and geopolitical uncertainties.
Spot gold was steady at $3,348 an ounce at 0250 GMT.
US gold futures rose 0.3% to $3,359 an ounce.
The metal hit a record high of $3,500.05 an ounce earlier this week.
In India, gold prices stood at:
₹9,824 per gram for 24K
₹9,005 for 22K
₹7,368 for 18K
(Prices for 10 grams as per Goodreturns)
Market sentiment and key drivers
Gold has surged by over $700 an ounce this year, supported by persistent macroeconomic concerns, volatile equity markets, and shifting central bank policies.
"While crowded positioning in gold may warrant a short-term pause, the pullback has so far been limited, as investors continue to view gold as a compelling hedge amid ongoing uncertainty," said Yeap Jun Rong, Market Strategist at IG.
US-China trade tensions also weighed on sentiment.
President Donald Trump reiterated that talks with China are ongoing, contradicting Beijing's claims.
China's commerce ministry demanded the removal of unilateral tariffs for progress.
Simultaneously, geopolitical tensions flared after Russia’s missile and drone attack on Kyiv killed at least 12. President Trump condemned the assault, adding to global unease.
Rate outlook and technical levels
Fed officials have shown no urgency in changing monetary policy. Markets are currently pricing in 84 basis points of rate cuts by end-2025. Lower rates tend to benefit gold, which does not yield interest.
Rahul Kalantri, VP Commodities at Mehta Equities, noted,
“Gold extended gains after US jobless claims rose and China signaled stimulus. Safety demand remains intact, though a stronger dollar and tariff optimism could cap upside.”
Technical levels indicate:
Support: $3,315–$3,288
Resistance: $3,375–$3,398
In rupee terms:
Support: ₹95,450–₹95,080
Resistance: ₹96,650–₹97,090
Investment outlook
Gold's rally reflects a flight to safety. Over the past five years, gold has tripled in value, largely on the back of global uncertainty.
Prithviraj Kothari, MD, RiddiSiddhi Bullions, said:
“Gold touched an all-time high this week. The long-term outlook remains strong due to geopolitical tensions, currency weakness, and economic instability. But investors needing liquidity may consider partial profit-booking.”
For long-term investors, gold continues to serve as a hedge against risk.
Those with shorter investment horizons may choose to rebalance, experts say.
-With Reuters inputs
