Gold edged lower in early trade on Comex after opening at $4,448 per ounce, with the precious metal last trading at $4,458.90, down $1.80 from the previous close
Domestically, the dollar was whipsawed by a shifting Fed outlook through the week, leaving gold caught between a structurally softer greenback and rising rate-hike probability.
Gold had risen sharply in August, supported by higher investment and hedging demand, along with continued buying by central banks, including China's central bank
This uncertainty has brought the focus back on diversification - spreading investments across different asset classes.
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In the global market, gold was trading near $4,480 per ounce on Comex, while silver was around $67.60 per ounce
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Market experts broadly see equities as having the strongest structural case over the next decade.
Mirae Asset ShareKhan's Praveen Singh said that gold's key support levels are at $4,450, $4,358, and $4,300-4,330, while resistance is seen at $4,533, $4,575, and $4,650.
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The Dutch central bank announced on Wednesday that it has moved billions of dollars worth of its gold reserves out of North America in a move it described as "crisis preparedness" in a time of global political unrest. It said that between March and August, some 86 metric tons (94.8 tons) of gold were transferred to London from the combined total of around 313 metric tons (345 tons) held in New York and Ottawa, Canada. Before the move, New York housed 31.3 per cent of the Dutch gold, and Ottawa held 19.7 per cent. After the move, both cities now hold 18.5 per cent, the bank said. The bank owns 612.4 metric tons (675 tons) of gold that was worth 72.2 billion euros (about USD 83.6 billion) at the end of 2025. "With this relocation, we have improved the tradability of our gold reserves," the bank's governor, Olaf Sleijpen, said in a written statement. "We expect that we will never need to use them, but we do need to strengthen our resilience and preparedness." More than 27 metric tons
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In the spot market, gold prices declined around 1.22 per cent to ₹1,54,940 per 10 grams. Meanwhile, silver futures fell 0.5 per cent to ₹2,40,011 per kg.
Gold seen at $4,300-$4,700, silver at $70-$85 by year-end in base case, bull case pegs gold at $5,600, silver $120 by year-end
After a bruising week that wiped out more than Rs 6,000 from gold prices, commodity markets are heading into September with traders bracing for another bout of volatility as US jobs data and geopolitical tensions take centrestage, analysts said. Investors will focus on manufacturing and services PMI data from major economies, including India. Inflation figures from Eurozone and Germany, and US non-farm payroll data due towards the end of the week will also be closely tracked, they added. "The coming week is likely to remain highly volatile, with market participants attempting to price in the probability of a September Federal Reserve policy change," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said. Gold futures for October delivery on the Multi Commodity Exchange (MCX) tumbled Rs 6,157, or 3.8 per cent, last week to Rs 1.56 lakh per 10 grams, while silver futures for September contract plunged Rs 9,893, or 4 per cent, to Rs 2.36 lakh per ...
A hawkish signal from Warsh could trigger further correction in gold towards the $4,500-$4,520 support zone, although downside may remain limited ahead of next week's US nonfarm payroll data.
In the global market, gold was trading near $4,700 per ounce on Comex, while silver was around $69 per ounce
In the global market, gold was trading near $4,680 per ounce on Comex, while silver was around $67.80 per ounce
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Spot gold was up 0.9 per cent at $4,643.63 per ounce, as of 0644 GMT, the highest level since mid May. Prices gained more than 5 per cent last week