Gold prices fell by 1.09% to settle at ₹99,178 per 10 grams on the MCX, despite geopolitical tensions in the Middle East. Investors are cautious ahead of key global central bank meetings, especially the U.S. Federal Reserve’s policy decision.
Goldman Sachs forecasts prices to reach $3,700/oz by the end of 2025, and BofA suggests a potential rally to $4,000/oz within 12 months.
However, immediate physical demand has taken a hit, with dealers offering discounts of up to $63/oz in India, and similar softness in other Asian hubs, such as China, Hong Kong, and Japan. Chinese demand for gold bars surged 12% YoY to 124.2 tons in Q1 2025.
