As of February 4, 2025, gold prices are experiencing significant activity both globally and in Delhi, India.
Global Gold Prices:
On the international stage, spot gold has risen by 0.3% to $2,820.69 per ounce, approaching the record high of $2,853.20 reached recently. This surge is primarily driven by ongoing concerns over U.S. tariff policies and inflation, which have heightened demand for safe-haven assets like gold.
Gold Prices in Delhi:
In Delhi, the price of 24-carat gold is ₹8,466.3 per gram, reflecting an increase of ₹150 from the previous day. For 22-carat gold, the rate is ₹7,762.3 per gram, up by ₹140.
Factors Influencing Gold Prices:
Several key factors are influencing the current gold price trends:
- U.S. Tariff Policies: Recent tariff impositions by the U.S. have led to global economic uncertainties, prompting investors to seek refuge in gold.
- Inflation Concerns: The potential for increased inflation due to these tariffs is bolstering gold’s appeal as a hedge against rising prices.
- Currency Fluctuations: A weaker U.S. dollar, influenced by economic data and policy decisions, has made gold more attractive to investors holding other currencies.
Market Outlook:
Analysts maintain a bullish outlook for gold, with some predicting prices could surpass $3,000 per ounce in the near future. This optimism is fueled by ongoing geopolitical uncertainties and expectations of continued demand for safe-haven assets.
In summary, gold prices are currently elevated due to a combination of geopolitical tensions, economic policy decisions, and market dynamics. Investors are advised to monitor these factors closely, as they are likely to continue influencing gold’s trajectory in the coming months.
