Gold price today hit $2900, up 11% in 2025

The yellow metal surged nearly 11% thus far in CY25 to hit $2900 levels in the international market on Monday. The gold prices (SPOT) gained over 1% on the MCX to breach the Rs 85,000 mark per 10 grams.

By Connect Gujarat Desk 10 Feb 2025 in Business

New Update

Gold price today hit $2900, up 11% in 2025

Gold prices have continued their stellar run of calendar year 2024 (CY24) into 2025 as well.

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The yellow metal surged nearly 11 per cent thus far in CY25 to hit $2900 levels in the international market on Monday. Back home, the gold prices (SPOT) gained over 1 per cent on the MCX to breach the Rs 85,000 mark per 10 grams.

Unlike in CY24, gold demand and gold prices, experts suggest, that had gained momentum on the back of buying by global central banks and investment demand, the recent uptick in the yellow metal in 2025 has been led by tariff threats by US president Donald Trump, which in turn have seen investors move away from equities to safer havens.

A cut in interest rates by the US Federal Reserve (US Fed), said G Chokkalingam, founder and head of research at Equinomics Research can create deflationary conditions, which indirectly will benefit gold. Though the central bank has paused for now, it remains to be seen for how long it can stay put.

Meanwhile, central banks, according to the World Gold Council (WGC), continued to buy gold at a healthy pace in 2024, with purchases exceeding 1,000 tonnes for the consecutive calendar year.

Buying ramped up significantly in October – December 2024 period, reaching 333 tonnes and bringing the annual total for central banks to 1,045 tonnes, as per the WGC.

Global investment demand, the WGC said, increased 25 per cent year-on-year to 1,180 tonnes – a four-year high – driven by a revival in gold exchange traded fund (ETF) demand in the second half of 2024.

Global gold ETFs added 19 tonnes in Q4-CY24, marking two consecutive quarters of inflows for the asset class. Bar and coin demand stayed largely in line with 2023 volumes at 1,186 tonnes in 2024.

#World #Business #Gold #Gold price

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