Gold Commentary: 27th February 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Below the Gold Commentary: 27th February 2025 by Mr. Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial services Ltd
Gold prices traded steady after retreating from recent record highs, as safe-haven demand remained strong amid uncertainty surrounding U.S. trade tariffs and slowing economic growth. President Trump yesterday, ordered an investigation into potential new tariffs on copper imports to boost U.S. production of a critical metal used in electric vehicles, military hardware, and consumer goods. Market participants are currently anticipating over 50 bps cut in the Federal Reserve’s rates by the end of the year, suggesting two 25-basis point cuts. Additionally, the ongoing U.S.-UN discussions over the Russia-Ukraine conflict continue to keep markets on edge. The U.S. dollar remains relatively steady around 106, supported by weaker economic data, which in turn benefits metal prices. U.S. consumer confidence dropped below expectations, falling below the 100 mark, indicating growing concerns about the overall sentiment. Attention now turns to key data releases, including U.S. GDP and pending home sales later today, while U.S. inflation data will be closely watched by market participants tomorrow.
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