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As on : 23-May-2025
Other Markets - Bullion Markets
23-May-2025      14:03

Gold set for weekly gain on safe-haven demand, weaker dollar

Gold climbed toward $3330 per ounce on Friday, recovering from earlier losses and heading for a weekly gain as safe-haven demand grew amid concerns over the US fiscal outlook. A weaker dollar, which fell below 99.6 and was on track for a 1 percent weekly drop, made bullion more attractive for overseas buyers. Worries over President Trump's new budget proposal, which includes tax cuts and increased defense spending, added pressure on the dollar and lifted gold. Geopolitical tensions also supported sentiment, following reports of potential Israeli strikes on Iranian nuclear sites. On the domestic front, MCX June gold futures rose to ₹95570 per 10 grams, up ₹234.

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