Global gold prices remain firm, set for a weekly gain, as investors eye US jobs data and inflation concerns. Indian gold prices decline.
March 8, 2025: Gold Prices Rise Amid US Trade Policy Uncertainty; India Sees Dip in Domestic Rates
Gold remains a preferred safe-haven asset amid economic uncertainty, though domestic prices in India take a hit.
Global gold prices held firm on Friday, poised for a weekly gain of 1.7%, as uncertainty over US trade policies, inflation, and economic growth continued to fuel demand for the precious metal.
At 05:48 GMT, spot gold traded at $2,911.00 per ounce, unchanged from the previous session.
Meanwhile, in India, gold prices fell, with:
Also Read: Sensex, Nifty 50 Log Biggest Weekly Gain of 2025; Banking Stocks Lag Behind
- 24-carat gold dropping by ₹510 to ₹8,765.3 per gram
- 22-carat gold declining by ₹470 to ₹8,036.3 per gram
US Trade Policies & Inflation Support Gold Prices
Gold’s bullish momentum remains strong amid economic concerns, particularly after US President Donald Trump suspended a 25% tariff on Canadian and Mexican imports. This policy shift has left markets unsettled, pushing investors towards safe-haven assets like gold.
“A weaker US dollar, ongoing trade tensions, and inflation worries continue to support gold,” said Kunal Shah, head of research at Nirmal Bang Commodities.
Also Read: “Can’t Sell Anything In India”: Trump Again Slams India Over “Massive Tariffs”
US Jobs Report & Federal Reserve Policy Outlook
Investors are keenly awaiting the US non-farm payrolls report, expected to show a 160,000-job increase in February. The Federal Reserve’s stance on interest rates will also be a key driver for gold prices, with Governor Christopher Waller signaling no rate cut this month, but possible reductions later in 2025 if inflation eases.
Gold’s Performance in 2025
So far this year, gold has surged over 10%, reflecting investor concerns over economic uncertainty and geopolitical risks. Analysts expect continued demand as markets navigate global inflation trends and interest rate decisions.