Gold price predictions: Gold rate falls today. Check experts' latest projections

Gold prices fell from a record high on Monday even as experts have predicted that the demand for the bullion will remain strong, as per a report.

Spot gold fell 0.4 per cent to $3,223.12 an ounce, as of 1123 (GMT). Bullion hit a record high of $3,245.42 earlier in the day. U.S. gold futures fell 0.2 per cent to $3,238.20, Reuters reported.

Goldman Sachs remained most bullish among major banks on gold, raising its year-end forecast to $3,700, citing stronger-than-expected central bank demand and heightened recession risks impacting ETF inflows.


Gold prices could potentially hit $4,500 by year-end in extreme tail scenarios where the market's focus on the risks of Federal Reserve subordination or changes in U.S. reserve policy increases, analysts at Goldman Sachs said.

"Market sentiment has improved a bit this morning after President Trump excluded electronics and smartphones from US tariffs. This has partly caused a dip in gold prices, likely due to profit-taking," said Zain Vawda, an analyst at MarketPulse by OANDA.

"A US-China deal seems unlikely anytime soon, and global trade tariffs continue to pose challenges, keeping demand for safe-haven assets like gold strong. Additionally, the weakening US dollar adds further support to gold's appeal," Vawda added.

The U.S. dollar hit its lowest level in three-years against its peers, making greenback-priced bullion cheaper for overseas buyers. Spot silver rose 0.3 per cent to $32.35 an ounce, while platinum added 0.9 per cent to $951.46. Palladium gained 1.7 per cent to $931.43.

FAQs

Q1. What are current prices of Silver?
A1. Spot silver rose 0.3 per cent to $32.35 an ounce.

Q2. What are current prices of Platinum, Palladium?
A2. Spot silver rose 0.3 per cent to $32.35 an ounce, while platinum added 0.9 per cent to $951.46. Palladium gained 1.7 per cent to $931.43.