Gold News

The Indian government has discontinued key elements of its gold monetization scheme, which was designed to mobilize idle household and institutional gold reserves through interest-bearing deposits.

Gold holds steady at $3,015 on Wednesday as investors square their positions while bracing for substantial tariffs from the US administration. Market participants are worried that new import duties could lead to higher inflation and slower economic growth.

Currently, the dollar is recovering due to the Federal Reserve’s forecast signaling two rate cuts this year, and not three, as markets expected. However, this will not be a major threat to gold prices for the rest of the year, says George Milling-Stanley, strategist at State Street Global Advisors.

Gold prices posted a slight gain of 0.1% on Tuesday, driven by continued uncertainty surrounding US President Donald Trump's tariffs.

On Monday, gold prices pulled back from record highs during Asian trade after the publication of reports that the US may introduce less stringent import tariffs on April 2 than it had been previously anticipated.

The increase in gold prices is creating problems for jewelers in Asia and the Middle East. Due to the high prices, customers are rushing to turn in old jewelry and coins. According to experts, this may reduce imports and slow down price growth.

After falling for two consecutive days, gold stabilized near the all-time high of $3,057 hit on Thursday. Economic and geopolitical risks are boosting demand for safe-haven assets, thus pushing the metal up.

An increase of the indicator value may contribute to the rise in quotes of Gold.

The gold market is experiencing moderate profit taking after the prices exceeded $3,050. Senior strategist at US Bank Wealth Management Rob Haworth warns that, despite the likelihood of reaching new highs, further asset growth requires increased uncertainty.

Gold is holding strong near the all-time high of $3,057 set on Thursday. The precious metal is heading for its third consecutive weekly gain.