Gold has been on a shining streak in 2025 as it soared nearly 25 per cent in just four months and hitting records high on both MCX and COMEX. Silver isn’t far behind with a strong 15 per cent jump on COMEX. According to Motilal Oswal Financial Services, this impressive rally is driven by geopolitical tensions, U.S-China trade worries and increased demand from investors seeking safe-haven assets.
Gold’s outlook continues to look positive, according to Motilal Oswal. Ongoing trade tensions, inflation concerns and steady buying by central banks are likely to keep supporting prices. On the technical front, the firm sees strong support for gold around Rs 91,000 per 10 grams and resistance near Rs 99,000 on MCX. On the global COMEX platform, key levels to watch are between 3,100 dollars and 3,400 dollars per ounce.
Emerging market central banks, especially China have been steadily adding to their gold reserves. This strong buying trend has boosted demand and helped keep prices stable, even as the US dollar has dropped over 7 per cent against major global currencies this year.
After cutting interest rates three times in 2024, the U.S. Federal Reserve is now taking a “wait and watch” approach. While President Trump is urging more cuts to spur economic growth, Fed Chair Jerome Powell is staying cautious, pointing to inflation risks from tariffs and overall economic uncertainty.
In a world grappling with policy uncertainty, inflation, and global tensions, gold is still seen as a safe haven. “In an environment dominated by policy uncertainty, inflationary pressures, and volatile geopolitics, gold continues to be a beacon of stability,” said Navneet Damani, Group Senior Vice President, Head Commodity and Currency Research at MOFSL. “Barring any significant resolution in global trade tensions, we maintain a ‘buy on dips’ view from a medium to long-term perspective.” (With ANI Inputs)
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