Categories: BusinessTopTrending

Gold Prices See Biggest Weekly Drop Since November, But Up 2.2% for February

After eight weeks of gains, gold prices dip as a stronger U.S. dollar, profit-booking, and global trade tensions weigh on sentiment.

March 1, 2025: Gold Prices Set for Sharpest Weekly Decline Since November: Here’s Why

Gold prices declined on Friday, February 28, 2025, heading for their biggest weekly drop since November 2024. The sharp fall is attributed to a stronger U.S. dollar, profit-taking by investors, and trade-related concerns following tariff announcements by the U.S. government.

Also Read: Rupee Hits Record Lows, Falls for Fifth Straight Month in February Amid Foreign Outflows & Trade War Fears

Despite this pullback, gold remains up 2.2% for February and continues to be a preferred safe-haven asset amid ongoing geopolitical and economic uncertainties.


Gold Market Performance This Week

Also Read: Stock Market Carnage: Sensex Crashes 1,414 Points, Investors Lose ₹9 Lakh Crore in a Day

📉 Spot Gold: Fell 0.4% to $2,864.33 per ounce
📉 US Gold Futures: Dropped 0.7% to $2,875 per ounce
📉 Weekly Decline: Gold lost 2.5% this week, its biggest drop since November 2024

💰 Gold Prices in India (Per Gram):
🔹 24-Carat Gold: ₹8,684
🔹 22-Carat Gold: ₹7,960
🔹 18-Carat Gold: ₹6,513


Key Reasons Behind Gold’s Decline

Also Read: List of Top World’s 24 Superbillionaires is Here! Mukesh Ambani, Gautam Adani Among Global Elite

💲 Stronger U.S. Dollar

  • The dollar index gained 0.7% this week, making gold more expensive for foreign buyers and reducing its appeal as an investment.

📉 Profit-Taking After Strong Rally

  • Gold had surged for eight consecutive weeks, prompting investors to book profits amid global economic uncertainty.

🚨 Trump’s Tariff Announcement

  • U.S. President Donald Trump announced 25% tariffs on Mexican and Canadian goods, along with a 10% duty on Chinese imports, effective March 4.
  • This boosted the dollar and added downward pressure on gold prices.

📊 US Federal Reserve & Interest Rates

  • Investors are awaiting the Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation measure, due at 1330 GMT.
  • Philadelphia Fed President Patrick Harker indicated that interest rates will remain between 4.25%-4.50%, reducing expectations of rate cuts that typically support gold.

Gold Market Outlook & Technical Levels

📉 Support Levels:

  • $2,855-$2,840 per ounce
  • ₹84,850-₹84,620 per 10 grams (INR market)

📈 Resistance Levels:

  • $2,900-$2,922 per ounce
  • ₹85,480-₹85,640 per 10 grams (INR market)


Conclusion

While gold has seen a sharp weekly decline, it remains a strong hedge against economic uncertainty. Investors will keep an eye on upcoming U.S. inflation data and Federal Reserve policies, which could influence gold’s trajectory in the coming weeks.


Tags:

#GoldPrices, #CommodityMarket, #GoldInvesting, #USDollar, #InterestRates, #TrumpTariffs, #GoldTrading, #GlobalEconomy, #SafeHavenAssets,

Misha Bhatia

Recent Posts

Kailash Kher Halts Gwalior Concert: ‘Janwargiri Mat Kariye’

Acclaimed Sufi singer Kailash Kher was forced to stop his live performance midway at the…

21 minutes ago

Anaconda Movie Review: Comedy or Horror? Sadly, Neither

The 2025 reimagining of Anaconda is a film that recognizes the absurdity of its own…

38 minutes ago

Sidharth Malhotra and Kiara Advani Celebrate Daughter Saraayah’s First Christmas

Bollywood’s favorite couple, Sidharth Malhotra and Kiara Advani, shared a heartwarming glimpse of their 2025…

57 minutes ago

Centre Opposes GST Cut on Air Purifiers, Cites ‘Pandora’s Box’ Risk

The Central government on Friday expressed strong opposition to a Public Interest Litigation (PIL) filed…

1 hour ago

Top 10 Indian Acting Performances of 2025: From Dhanush to Jaideep Ahlawat

The year 2025 has been a landmark era for Indian cinema, defined by performances that…

2 hours ago

China Rejects Pentagon Claims of Undermining US-India Relations

On Thursday, December 25, 2025, China's Ministry of Foreign Affairs and Ministry of Defence issued…

2 hours ago