Gold price on Good Friday, Easter Weekend: Check latest Gold rate projections

Gold futures rates were up even as Gold prices fell on Thursday. While Spot gold ‌was down ⁠2.2 per cent, after hitting a two-week high earlier in the session, U.S. gold futures settled 7.5 per cent higher at $4,651.50. Gold futures jumped 50 per cent from last year. Metals futures trading will remain closed on account of Good Friday and is scheduled to open at 6 p.m. (ET) on Sunday in New York, according to Wall Street Journal report.

Gold prices remain volatile as the U.S. dollar and oil prices strengthened after President Donald Trump said the U.S. would continue attacks on Iran, spurring inflation concerns and bolstering expectations of higher interest rates. The dollar rose sharply, making greenback-priced bullion more expensive ​for holders of other currencies.

President Trump said in a televised speech ⁠that the U.S. military had nearly accomplished its goals in ​Iran, but offered no clear timeline for ending the month-long ​war and vowed to bomb the country back into the "Stone Ages".


Oil prices climbed following Trump's remarks. Higher energy prices feed through to broader inflation, reducing the scope for central banks to cut rates.

Despite its status as a hedge against inflation, gold struggles when rates are high as it yields no interest. Spot gold has ‌fallen 12 per cent since the Middle East conflict started on February 28.

Sentiment was also hit by news that the Turkish central bank's gold ​reserves dropped ​by 69.1 metric tons ⁠to 702.5 tons last week, bringing the fall in the last two weeks to more than 118 tons as authorities seek to blunt market fallout from the war.

In ​Asia, gold traded at a premium in India for the first time in two months as softer prices boosted demand, while premiums in China ticked down slightly as buyers awaited a deeper correction.