Gold prices rose 0.2% to 1,01,468 on MCX, following a recent high above 1,02,000. The increase was fueled by trade tensions and expectations of US interest rate cuts.
US President’s tariffs, including a 100% tariff on imported semiconductors, boosted sentiment. CME FedWatch predicted a 91% chance of a September rate cut.
Citi raised its gold forecast to $3,500 per ounce due to deteriorating US growth, tariff-driven inflation, and geopolitical risks. Physical demand in Asia improved slightly. Global gold demand rose 3% YoY to 1,248.8 tons in Q2 2025.
