GOLD HITS 2-WEEK HIGH AS SAFE-HAVEN DEMAND SURGES
Published on May 22, 2025 14:07
Gold futures climbed toward $3350 per ounce on Thursday, marking a fourth straight day of gains and nearing a two-week high. The rally was fueled by renewed safe-haven demand amid heightened geopolitical tensions and deepening concerns over the US fiscal situation. Adding to the momentum, Chinese customs data revealed a sharp rise in gold imports in April to 127.5 metric tonnes, the highest in 11 months. The 73 percent monthly surge came as the People�s Bank of China expanded import quotas during a period of escalating US-China trade tensions. Meanwhile, President Trump�s apparent retreat from mediating the Russia-Ukraine conflict, along with unrest in the Middle East, has further driven investors toward gold. On the domestic front, MCX gold futures rose ₹506 to ₹96105 per 10 grams, also hitting a two-week high.
Powered by Capital Market - Live News