Gold News

Heraeus analysts note that despite gold pulling back from April highs, prices of the yellow metal remain high. This could further depress Indian demand.

Silver struggles to hold critical support at $36 an ounce as gold consolidates near $3,300 per ounce. However, Bernard Dahdah, analyst at Natixis, notes that silver may continue rising as it breaks away to forge its own path.

According to Citi's forecast, gold prices will stabilize between $3,100 and $3,500 per ounce in the third quarter of this year. Recently, the precious metal has been declining due to easing Middle East tensions and improving global economic growth prospects.

Amid sluggish trading activity and reduced geopolitical risks, gold prices are facing downward pressure this week, testing key support levels. However, analysts at Kitco News suggest that sustained central bank demand for bullion could mitigate further declines in the precious metals market.

Gold prices reversed course on Monday on the back of a weaker dollar, heading upward. A 0.2% drop in the US dollar index made bullion cheaper for holders of other currencies and helped restore interest in the yellow metal.

A decrease of the indicator value may contribute to the fall in quotes of Gold.

An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.

An increase of the indicator value may contribute to the rise in quotes of USD and the fall in quotes of Silver, Gold.

On Friday, gold prices recorded their second weekly decline due to a stronger US dollar and easing of geopolitical tensions between Iran and Israel. Today, gold prices fell to $3,291 per ounce. Over the current week, bullion prices have dropped by 1.7%.

BMO Capital Markets’ outlook for the third quarter suggests that gold prices will remain close to the current level through the summer. However, analysts expect prices to rise to $3,600 per ounce in the fourth quarter.