Gold prices rose 0.38% to ₹85,809 as the US dollar weakened, concerns over the US president’s potential tax policies and concerns that they could worsen global trade tensions. Traders are now leaning towards a rate cut in July as headline inflation has been higher than expected.
After reaching a peak demand of 802.8 metric tonnes last year, India’s gold consumption is forecast to fall in 2025 as a result of record prices. Demand for jewellery remains under pressure, but demand for investments – particularly gold ETFs, digital gold and coins – is growing, the World Gold Council said, projecting demand of 700 to 800 metric tonnes. To attract customers, Indian traders were cutting their prices by $31 per ounce. Japanese gold was fluctuating between a $3 discount and a $1 premium, while gold in China was being offered at a $7–$10 discount,
