Gold Prices Dip After Record Highs Amid Dollar Strength, Low Demand: Experts Highlight Crucial MCX Levels

Gold retreats over ₹2,000 from March 20 peak due to profit booking, firm dollar index, and subdued spot demand; analysts suggest sell-on-rise strategy in short term.

Gold Prices | March 25, 2025 — After hitting an all-time high of ₹89,796 per 10 grams last week, domestic gold prices opened on a weaker note Monday, weighed down by profit booking, strengthening of the US dollar, and a lack of fresh triggers in the global market.

MCX Gold April 4 contract was down 0.08% at ₹87,705 per 10 grams, marking a decline of over ₹2,000 from its recent peak on March 20.

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📉 Why the Dip?

The correction comes amid:

• A rebound in the US dollar index, now near a 3-week high, making gold expensive for other currency holders.
• Muted spot market demand.
• Absence of immediate geopolitical or economic shocks that typically support gold buying.

🌎 Global Factors at Play

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International gold also eased as stronger US economic data and uncertainty around President Donald Trump’s tariff policies spurred volatility across asset classes. Despite this correction, gold has gained 14% year-to-date, supported by:

• Central bank buying,
• Global recession fears,
• Safe-haven demand from China and India,
• Expectations of rate cuts from the US Federal Reserve.

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📊 Key Technical Levels to Watch

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• COMEX Gold: Support at $3,000–2,984, resistance at $3,044–3,055 per troy ounce
• COMEX Silver: Support at $33.15–32.80, resistance at $33.74–34.00 per troy ounce
• MCX Gold (₹): Support at ₹87,400–87,140, resistance at ₹88,000–88,360
• MCX Silver (₹): Support at ₹97,100–96,400, resistance at ₹98,650–99,400

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