Gold outlook: Spot gold is likely to range trade ahead of the US ISM services and nonfarm payroll reports
RBI's balance sheet grew to ₹76.25 trillion in FY25 with a record ₹2.69 trillion surplus and higher gold, domestic and foreign investments; gold holding rose 57.48 tonnes
As traders remain hopeful about further improvement in the global trade scenario, upside in the metal may be limited in the near term, says Praveen Singh
Gold prices are likely to stagnate or even decline by 5 per cent to 10 per cent over the next year, as it potentially underperforms global equities
Domestic gold prices hit a record high of ₹99,358 per 10 grams earlier this month
The metal may test $3372-$3400 resistance zone. Upside is likely to be capped at $3400 in the short-term
In early 1980, investors, according to Capitalmind, were inspired by the stellar returns of the 1970s. If they invested in gold back then, they would have faced two decades of negative returns.
With budgets under strain, shoppers are turning to old jewellery to meet new needs
Today, we look at the challenges and opportunities that India faces in various areas, from gold to flowers to water, and most importantly, China.
The bank also noted a surge in gold ETF inflows, driven by fears of a recession, with its economists assigning a 45 per cent probability to a US recession in the next 12 months
Spot gold was up nearly 2 per cent at $3,235.89 an ounce at 2:32 p.m. ET (1832 GMT), after hitting a record high of $3,245.28 earlier in the session
In the previous session, Indian markets ended in the red after the RBI MPC cut the repo rate by 25 basis points to 6 per cent, and shifted its policy stance from 'accommodative' to 'neutral'.
Support is at $2947 (MCX June contract ₹86,300) /$2900 (₹85,000). Resistance is at $3050 (₹89,300)/$3100 (₹90,800)
Gold dropped over 3% on Friday, after US President Donald Trump's bigger-than-expected tariff measures rippled across global markets, wiping out nearly $6 trillion in value from US stocks last week
On April 3, spot gold, buoyed by renewed safe haven demand due to unexpectedly high reciprocal tariff rates that pose a risk to the global trade and economy, soared to a fresh record high of $3,167.84
All eyes are on the US non-farm payrolls report, due Friday, for further clues on the Federal Reserve's monetary policy path
Gold rallied 19 per cent in the first quarter as it was up around 2 per cent last week-its fourth straight weekly gain.
The key risks to the upside in gold, BofA Securities said includes US fiscal consolidation, reduced geopolitical tensions, and a return to collaborative inter-governmental relations
On March 27, spot gold rose to a fresh record high of $3,059 on safe haven demand coming on US imposing auto tariffs. A weaker dollar also boosted the yellow metal
FY25 wrap: At 6:34 AM, GIFT Nifty Futures were down 28 points at 23,749, suggesting a negative start