Gold prices surged for the eighth consecutive day, reaching a new high of Rs 83,100 per 10 grams in the national capital on January 24, 2025. This marked the first time the precious metal crossed the Rs 83,000 threshold, driven by growing concerns over policy uncertainty under US President Donald Trump. However, as of January 25, 2025, gold prices have slightly dipped to around Rs 82,700 per 10 grams.
Gold Prices Hit New Highs
According to the All India Sarafa Association, gold with 99.9% purity hit Rs 83,100 per 10 grams on January 24, 2025, up from Rs 82,900 the previous day. This marked a significant rise in the metal’s value, showcasing its continued appeal as a safe-haven investment amidst global uncertainties.
Global Gold Prices Reach a Three-Month Peak
International gold prices also saw a sharp increase, reaching a near three-month high of $2780. This marked the fourth consecutive week of gains, fueled by strong demand and positive global cues, with investors seeking stability in gold amidst ongoing global concerns.
Experts Predict Continued Rise in Gold Prices
Experts believe that gold prices may continue to rise due to uncertainties surrounding US President Trump's trade policies. Sandip Raichura, CEO of PL Broking, noted that gold is likely to maintain a slightly upward bias as markets await further developments from Trump’s comments. Dr. Renisha Chainani, Head of Research at Augmont Gold, pointed out that gold had broken out from its symmetrical triangle pattern and sustained above $2750 (Rs 79,100), which could lead to further upward momentum toward $2800 (Rs 80,500).
As the market anticipates the upcoming Federal Reserve meeting, any changes in interest rate policy could impact gold’s future trajectory.