Market Performance
On the auspicious occasion of Akshaya Tritiya 2025, gold prices witnessed a slight dip in the domestic futures market. The decline comes amid easing concerns over global trade tensions and a firmer US dollar.
- MCX Gold (June 5 contracts) traded at ₹95,151 per 10 grams, down 0.46% around 9:10 AM.
- The yellow metal has now dropped over ₹4,000 from its all-time high of ₹99,358 per 10 grams recorded on April 22.
- In the previous trading session, gold settled at ₹95,592, posting a 0.45% decline.
Despite the fall, strong spot demand during Akshaya Tritiya helped cushion the downside.
Main News
Gold prices have been under pressure due to:
- Reduced trade war fears, with signs of diplomatic progress between the US and its trade partners.
- A stronger dollar index rose by nearly 0.20%, making gold more expensive in other currencies.
Key Contributing Factors
- The US President's move to ease auto tariffs.
- Reports of a first trade agreement signed with a foreign partner.
- Investor focus is shifting to upcoming US macroeconomic data like Q1 GDP, PCE, and non-farm payroll reports.
Summary of the Article
- Akshaya Tritiya's 2025 gold rate decreased slightly due to calming trade tensions and a firmer dollar.
- MCX gold contracts dropped reflecting profit-booking from record highs.
- Spot market demand remains robust due to the festive sentiment.
- Traders and investors are now closely watching upcoming US economic indicators for further direction in gold pricing.
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