MCX Gold Rate Settled 0.04% Higher at 1,00,314 per 10 grams after touching an intraday high of 1,00,681. Meanwhile, MCX Silver Prisis Declined Marginally By 0.02% to 1,06,474 per kg, after hitting a high of 1,06,940 during the session.
In the International Market, Spot Gold Price Surged 1.3% to $ 3,428.10 an oourage, Inching closer to its all-time high high of $ 3,500.05 set in April. For the week, prices Gained Approximately 4%. Us Gold Futures also Advanced 1.5% to Settle at $ 3,452.80.
Drivers Behind Gold Price Rally
“The latest upswing has been fuled by renewed conflict in the middle East, Particularly The Israeli Striks on Iranian Nuclear Infrastructure, which have significly incredible global risk Reinforcing Gold’s appeal as a safe-han asset, “said sugandha Sachdeva, Founder of SS WealthStreet.
She further noted that the us dollar index, which peaked at 110.18 in january, has since dropped to a three-yar low, weighed down by disappointing economic indicators and policy amid Tariff Measures.
“The sharp decline in the dollar index has been a key catalyst Driving Gold Higher. Additional, Easing Inflation – With the us CPI Cooling to 2.4% in May, Below Exactations – Mad Rased PROSPECTS OF A A Rate Cut by the Federal reserve, potentially as early as its June 18 meeting, ”Sachdeva Added.
Markets are now Increasingly Pricing in a Cumulative 50 Basis Points Rate Cut in 2025, Lending Further Support to Bullion Pries.
Gold Price Performance in 2025
Gold has delivered stellar returns so far this year, Rising 31% year-to-date (ytd) and consistently posting record highs. The metal has reaffirmed its position as one of 2025’s top-printing asset classes and a reliable Hedge against macroeconomic and geopolitical uncertainty.
Form 7,638 in 2005 to over 1,00,000 in June 2025, MCX Gold Pries have sored by an impressive 1,200.84%. In comparison, silver has gained 668.84% over the same period.
Notably, Gold Pries have Rallied by 10,000 in just the past 74 days. The asset has delivered positive returns in 16 of the last 20 years, highlighting its resilience and investor appeal.
“This sustained rally is being driven by a confluence of global macroeconomic and geopolitical factors. This include heightened Economic Uncertainty, Anticipated Rate Cuts by the Us Fed, Aggressive Central Bank Gold Purchases, and Rising Geopolitical Tensions, “Sachdeva observed.
Gold Price Outlook
With supported macroeconomic drivers and strong momentum, the outlook for gold remains bullying in the near term. According to Sachdeva, if tensions in the Middle East escalate further, another wave of safe-haven buying could propel gold prices toward the $3,500 mark.
“A Breakout Above That Level Could Drive Pries even Higher Toward 1,05,000 per 10 grams, with Near-Term Support Seen at 96,200 Level, “Sachdeva said.
NS Ramaswamy, Head -Commodity Desk and CRM at Ventura Securities, Expects Comex Gold Price to Create a Fresh High of $ 3,540 in the short term, with resistance at $ 3,476, and Supporty at $ 3,400 – $ 3,345 levels.
“McX Gold August Futures Presently Has Support at 98,900, and is poised to surge to 1,02,000 in the short term, ”said Ramaswamy.
Goldman Sachs Reiterated Its Forecast that Structurally Structrally Structural Bank Buying will Raise the Gold Price to $ 3,700 per Once by END-2025 and $ 4,000 by Mid-2026. Bofa Sees a Path for Gold to Rally to $ 4,000 per Once over the next 12 months.
Disclaimer: The views and recommendations made about individual analysts or broking companies, and not of Mint. We Advise Investors to Check With Certified Experts Before Making Any Investments Decisions.
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