Overview
- Gold hit an all-time high of $3,500.33 per ounce on April 22, 2025, before retreating over 3% due to profit booking and a stronger U.S. dollar.
- Indian spot prices reached a record Rs 1,01,000 per 10 grams but have since corrected to Rs 95,893–99,400 across major cities.
- Renewed concerns over U.S.-China trade tensions and mixed signals from policymakers have driven gold prices back up after the correction.
- Treasury Secretary Scott Bessent stated that U.S.-China tariffs must be reduced for trade talks to progress, but unilateral tariff cuts are not planned.
- Goldman Sachs and JPMorgan have raised forecasts, predicting prices could reach $3,700–4,500 per ounce by late 2025 and over $4,000 by mid-2026.