Gold stands firm near record-high all time high!
The Bullion Market witnesses all time high price in Gold
Recently, the gold & jewellery market witnessed all time high price in Gold. In the row, Rajesh Rokde, Chairman - All India Gem and Jewellery Domestic Council (GJC) said, “The all-time high price for gold was nearly $2,000 per ounce in 2011. However, if we adjust for inflation, the highest price of gold was actually $2,845.81 per ounce, which is the current price as of February 5, 2025.
To give you a better idea, here are some key milestones in gold prices, 1: 2025: $2,845.81 per ounce (as of February 5, 2025), 2: 2011: nearly $2,000 per ounce & 3: 1980: $850 per ounce (not adjusted for inflation).
Keep in mind that gold prices can fluctuate rapidly due to various market and economic factors. If you're interested in investing in gold or tracking its price, I recommend checking reliable sources like Macro trends for the latest updates."
Avinash
Gupta, Vice Chairman – GJC said, "Gold prices have soared to an all-time
high due to the global uncertainty sparked by the tariff war initiated by Trump
and followed by China. This ongoing uncertainty is expected to drive gold
prices towards greater volatility, as any instability in the global economy
tends to push gold prices even higher."
In the row of GJC, Colin Shah, MD, Kama Jewelry suggested his outlook & also expressed the gold price hike, “Gold prices touched a record high of $2880 level in international markets. The rally in prices of yellow metal is due to the softness in DXY which fell from 109 to 107 level.
Also, rising concerns of a likely US-China trade war amidst the Trump’s tariff threats are playing a crucial role in supporting the prices of gold. Gold prices move upwards in times of economic uncertainty, which boosts the demand for safe-haven assets like gold.
While the US has agreed to postpone plans to impose 25% tariffs on Canada and Mexico by 30 days, they have reiterated their stance to impose 10% trade tariffs on Chinese goods. China, on the other hand, retaliated with tariffs on some US exports, which is paving the way for a possible trade war between both countries. Going forward, we reiterate our view of gold hitting levels of $3000 for international markets. In the domestic market, gold prices are expected to hit around INR 88,000 level.”
Augmont Bullion Report said on February 4, Gold stands firm near record-high! The report highlight said, 1: U.S. President Donald Trump agreed to a 30-day halt in tariffs on Mexico and Canada on Monday in exchange for border and crime enforcement concessions with the two nations, while levies on Chinese goods are set to start later today, keeping gold bids at record highs.
2: As the market views Trump's tariff policies as inflationary, international bullion banks are flying gold into the United States from trading hubs catering to Asian consumers, such as Dubai and Hong Kong, to profit from the unusually high premium that U.S. gold futures are trading higher over spot prices.
Technical Triggers suggest, 1: Gold prices have been trading in a range of $2800 (Rs 82000) to $2850 (Rs 83200), either side breakout and sustainability will give a $50 (Rs 1200) move in the prices. 2: Silver prices have been trading in the range of $31.70 (~Rs 92000) to $32.90 (~Rs 94500), either side breakout or sustainability will give a $1 (Rs 2000) move in the prices.
From Support and Resistance view, International Gold Support level is of US$ 2790/oz & International Gold Resistance level is of US$2900/oz. in the Indian perspective, Indian Gold Support level is of Rs 81000/ 10 gm.
Indian Gold Resistance level is of Rs 83000/ 10 gm.
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