Gold Commentary: 24th February 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Gold Commentary: 24th February 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Gold prices eased on Friday as investors booked profits from the previous session's record high, but were set for an eighth straight weekly gain, driven by strong safe-haven demand amid concerns over U.S. President Donald Trump's tariff plans. Prices have shattered two record highs last week to trade above $2,950, as uncertainties surrounding global economic growth and political instability have underscored investor appetite for bullion. Trump's fresh bout of tariff plans announced earlier this week includes duties on lumber and forest products, on top of previously announced plans to impose duties on imported cars, semiconductors and pharmaceuticals. This is after the imposition of an additional 10% tariff on Chinese imports and a 25% tariff on steel and aluminium. Despite all this we have witnessed a sharp fall in Dollar index hovering around 106 supporting prices on lower end. Focus this week will be on US GDP, Inflation, consumer confidence and durables goods orders data.
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