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Gold Price Today: Gold, traditionally a “safe-haven asset,” has been a go-to for investors during economic uncertainty. However, the yellow metal is now facing unexpected lows amidst the ongoing economic crisis. Despite its reputation for stability, gold continues to fluctuate, showing volatile behavior. While it has always been seen as a store of value, especially in times of crisis, the recent price swings highlight its unpredictable nature. Consumer sentiment and global events heavily influence its price, making gold’s performance uncertain. This volatility is a reminder that even the most trusted assets can experience sudden shifts in a turbulent market.
Gold Price Today In The Opening Session
As global trade tensions rise, MCX gold prices opened at Rs 88,130 per 10 grams on April 6, 2025, according to data from the Multi Commodity Exchange (MCX). Meanwhile, MCX silver was priced at Rs 92,403 per kilogram.
Gold prices have sharply declined, raising concerns after recently surpassing Rs 90,000 per 10 grams. This drop marks a steep fall, reflecting global economic volatility. On April 4, 2025, the Indian Bullion and Jewellers Association (IBJA) listed retail selling rates. Fine gold (24K) was priced at Rs 91,010 per 10 grams, and 22-carat gold at Rs 88,830 per 10 grams. The shift from Rs 90,000 to Rs 88,130 highlights the gold market’s unpredictability, influenced by various global and local factors.
Gold prices dropped from Rs 90,057 to Rs 88,099 per 10 grams, marking a decline of 2.17%. Additionally, the global spot gold price fell by 2.4%, reaching $3,041.11 per ounce. This sharp drop highlights the current volatility in the global gold market.
What Is The Cause Behind The Great Gold Price Fall?
- The market had already factored in the possibility of a trade war.
- The announcement of US tariffs triggered profit-booking in gold.
- Gold prices had absorbed the impact of trade war concerns in recent months.
- Once the tariff news was confirmed, investors began locking in profits.
- Easing tensions in conflict zones like Russia-Ukraine and the Middle East could weaken the demand for safe-haven assets like gold.
HSBC’s Forecast
- HSBC raised its 2025 gold price forecast to $3,015 per ounce and 2026 forecast to $2,915 per ounce.
- The revised forecast is higher than previous estimates of $2,687 for 2025 and $2,615 for 2026.
- Geopolitical risks, including the Ukraine war, Middle East conflicts, U.S. foreign policy changes, and economic uncertainty, are driving gold prices higher.
- Central banks are expected to continue buying gold in 2025 and 2026.
- HSBC warns that gold purchases may fall below peak levels (2022-2024) if prices rise above $3,000 an ounce.
- Purchases may increase if prices drop below $2,800 per ounce.
Will Gold Price Fall In India?
The future of gold prices in India is facing some uncertainty. When former U.S. President Donald Trump’s decision excluded gold and silver from tariffs, it eased supply-side concerns, leading to an increase in Comex inventories. This, in turn, added pressure on global gold prices. In India, it’s becoming challenging for gold prices to stay above Rs 88,800 per 10 grams. If this support level breaks, gold could fall to Rs 87,000, with the potential for further declines to Rs 84,000 if the bearish trend persists.
Additionally, the strong U.S. jobs report signals that the Federal Reserve is unlikely to cut interest rates in the near future, putting further downward pressure on gold prices. As a result, domestic gold prices may struggle to maintain current levels, with geopolitical and economic factors contributing to the ongoing volatility in the market.
Also Read: Gold Price Today: Massive 40% Price Drop Predicted For Gold – Where Is The Yellow Metal Headed?
